Witness: Ex-Gen re execs told AIG transaction a deposit, not reinsurance
HARTFORD, Conn. January 16 (BestWire) — For the deal to proceed, the former top executives at General Reinsurance Corp. who were in charge of crafting an allegedly fraudulent reinsurance transaction for American International Group's convenience wanted AIG to be fully comfortable with the fact that Gen Re was going to book the non-risk deal as a deposit, not reinsurance, a government witness told a jury in a federal trial in Hartford, Conn.
Ron Ferguson, then-chief executive officer of Gen Re, had instructed the executives to make it very clear to AIG that “Gen Re was booking it as a deposit, and didn't want AIG coming back down the road
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