January 21st in Uncategorized by Editor .

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…

Charles Tyrwhitt UK
 

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.

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