Popular Searches: 　AIG 　china 　sunamerica+aig 　LIFE 　financial 　health
  • Share

Jury Finds French Firm Guilty of Fraud in Executive Life Case

 

Thursday, Apr 22,2010, 8:28:10 PM   Click:

A federal jury on Tuesday found that a French company owned by billionaire Francois Pinault conspired to defraud California regulators as part of a scheme to take over failed insurer Executive Life, the Associated Press reported.

While ruling on the state's lawsuit, the U.S. District Court jury cleared Pinault himself of any involvement in the scheme. Jurors also found that the actions of the firm, Artemis SA, caused harm to Executive Life policyholders. California was seeking about $1 billion in damages and interest from its lawsuit, filed in 1999.

The rulings carried no immediate financial judgment, AP reported, and the judge encouraged the parties to reach a settlement.

  • Share
  • Print

You may also be interested in:

Discuss this news

Click Here to see all comments
Please aware of self to obey the Internet related policy laws and strictly forbid to release porn, violence.
Appraisal:

Name:

Email:

Content:

Featured

As more and more workers tweet on Twitter or post on Facebook, employers have been slow to establish policies that would protect them from potential liability stemming from their employees'

Getting Burned

As more and more workers tweet on Twitter or post on Facebook, employers have

WASHINGTON_Cast as a profit-hoarding villain by Democratic foes, the insurance industry still has a fighting chance to fend off the part of health care overhaul it most despises _ creation of a

THE INFLUENCE GAME: Insurers fighting back quietly

WASHINGTON_Cast as a profit-hoarding villain by Democratic foes, the insurance

Copyright: The Dallas Morning News Source: Dallas Morning News, The Wordcount: 880 March 30 - The case against Texas financier R. Allen Stanford centers on a bank product that 'the backbone of

With Scammers On The Prowl, did your homework before

Copyright: The Dallas Morning News Source: Dallas Morning News, The Wordcount:

HAMILTON, Bermuda--(BUSINESS WIRE)-- Assured Guaranty Ltd. (Assured) (NYSE:AGO) today announced that the underwriters of its previously announced common share and equity unit offerings have

Assured Guaranty Ltd annonce l'exercice des options de

HAMILTON, Bermuda--(BUSINESS WIRE)-- Assured Guaranty Ltd. (Assured)

NEW YORK - (BUSINESS WIRE) - Fitch Ratings has downgraded the long-term issuer and senior debt rating of PMI Group, Inc. (TPG) to CC/RR5 'from' CCC 'and the junior subordinated debt rating PMI

Fitch downgrades the PMI Group's senior debt to 'cut

NEW YORK - (BUSINESS WIRE) - Fitch Ratings has downgraded the long-term issuer

Joyce, Jackman Bell is working with the court to acquire the agency that is embroiled in a state investigation and civil lawsuits. We want the company because it would be new business for us, said

Joyce, Jackman and Bell offer to buy Murray Insurance

Joyce, Jackman Bell is working with the court to acquire the agency that is

Bank of America Corp., one of the largest mortgage lenders in Florida, said Wednesday it will give some troubled mortgage borrowers a huge break. It will forgive up to 30 percent of some customers'

Bank of America began to reduce the principal amount

Bank of America Corp., one of the largest mortgage lenders in Florida, said

MOST POPULAR