Ronald E. Ferguson

Mr. Ferguson was sentenced to two years in prison and a $200,000 fine for conspiracy, securities fraud, mail fraud and making false statements to the Securities and Exchange Commission. The former CEO of General Re Corporation was convicted for his role in taking out a reinsurance policy with AIG causing the stock price to increase and inflate reserves by $500M. He could have been given a life sentence but the judge, citing Mr. Ferguson's history of community service and volunteering gave him a drastically lower sentence than federal guidelines call for. The full NYtimes article can be read here.

December 17, 2008 In: People Comments (None)