Ignoring a government request that he serve more significant time, a federal judge last week sentenced Ronald E. Ferguson, former chief executive of General Reinsurance Corp., to two years in prison for securities fraud involving a sham finite reinsurance transaction to benefit American International Group.
U.S. District Court Judge Christopher F. Droney in Hartford, Conn., also imposed a $200,000 fine and two years of supervised release on the 66-year-old former CEO.
Mr. Ferguson was ordered to report to a Bureau of Prisons facility on Feb. 18, 2009, if he is unsuccessful in arguments at a prior court hearing that he should remain free on bond pending his appeal of conviction to the 2nd Circuit U.S. Court of Appeals.
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