An executive for Berkshire Hathaway Inc.'s Gen Re insurance unit will plead guilty this week to a criminal charge that he helped rival American International Group Inc., the nation's biggest insurance company, exaggerate its finances, his lawyer said Monday. John Houldsworth, who was CEO of a General Re unit from May 1990 to June 2001, would be the first to plead guilty in the multiple probes of whether AIG manipulated its finances to boost the appearance of its financial health.
June 08, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
An executive for Berkshire Hathaway Inc.’s Gen Re insurance unit will plead guilty later this week to a criminal charge that he helped rival American International Group Inc. exaggerate its finances and will cooperate in the continuing investigation, his lawyer said Monday.
John Houldsworth, 46, will plead guilty to one count of conspiring with others to misstate the financial statements of AIG, the nation’s biggest insurance company, his lawyer, Larry Byrne, said in a statement.
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