General Re’s $92m Settlement For Fraud Involvement
Rumour has it that the legendary investor (and the normally good humoured) Warren Buffet gave a particularly cranky interview yesterday…
He had a number of possible reasons competing for his little-exercised cranky nerve, expensive Kraft/Cadbury deal, random bank taxes, Crap bankers’ golden parachutes…and this might have been another of them:
SEC: The Securities and Exchange Commission today [Wednesday] charged General Re Corporation for its involvement in separate schemes by American International Group (AIG) and Prudential Financial, Inc. to manipulate and falsify their reported financial results.
US officials announced a 92 million dollar settlement with the insurance firm which is controlled by Warren Buffett, for its role in the fraudulent accounting practices, including a scheme to help AIG.









