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.
Latest Posts
- 4Q2024 IWM Investment Insights Newsletter October 17, 2024
- 3Q2024 Market and Economic Review October 17, 2024
- IWM Investment Insights 3Q2024 July 29, 2024
- IWM Investment Insights 2Q2024 April 25, 2024
- IWM Alert: Client’s Daughter is in urgent need of a Kidney! March 11, 2024
Categories
- Books
- Companies
- Current Affairs
- Financial Articles
- Financial Planning Perspectives
- FINRA
- Fleeced
- Fleecing Fighters
- Focus on Fiduciary
- Government
- International
- Key Data
- On the Fleece
- People
- Quarterly Market Analysis
- Quarterly Newsletters & Planning Alerts
- Quote of the Day
- Religion
- Retirement
- Sports
- Stat of the Day
- Uncategorized
- Web/Tech