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Former insurance executive to plead guilty in AIG fraud case

[JURIST] A former top executive in Berkshire Hathaway's [corporate website] Gen Re [corporate website] insurance group, will plead guilty later this week to one count of conspiracy, according to his lawyer. John Houldsworth is charged with conspiring to misstate the financial statements of AIG [company site], the biggest insurance company in the US. Houldsworth would be the first to plead guilty in a series of probes into charges [JURIST report] that AIG manipulated the appearance of its financial health. A separate civil complaint was also filed against Houldsworth and other Gen Re executives alleging that they aided and abetted AIG's securities fraud. Read the SEC press release. AP has more.

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Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

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