Robert Graham -- and four other executives from Connecticut-based Gen Re – signed the deferred prosecution agreements last Friday, which requires the payment of fines and to remain crime-free for one year, after which charges will be dropped, according to Law.com’s Corporate Counsel web site.
Loss reverses
The agreement ends a long-running case, which began in 2000 when Mr Graham assisted in manipulating a business deal that temporarily provided American International Group with loss reserves on paper that it didn’t really have, to bolster its bottom-line and fool analysts and investors.
Mr Graham’s lawyer, Alan Vinegrad -- a partner in the New York office of Covington & Burling -- declined comment.
Email your news and story ideas to: [email protected]
