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More flattering information about the insurance industry

  This week, 5 executives, including the reinsurance manager of A.I.G., one of the country's largest insurers, were convicted on all 16 counts of a massive accounting fraud. The former chairman of A.I.G. was an unindicted co-conspirator.  He denies involvement, despite having been forced out of the company as a result of the massive sham transaction.  AIG has acknowledged that its scam to inflate its "reserves"  by 500 million dollars was an improper attempt to increase its share value.  In 2006 it agreed to pay 1.6 billion dollars to settle claims by state and federal regulators.   AIG declined to comment on the verdict.

Thompson O’Neil, P.C.
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Traverse City, Michigan 49684
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