(Reuters) – Five former executives of American International Group Inc and BerkshireHathaway Inc unit Gen Re admitted to conducting a fraudulent reinsurance transaction on Friday as part of a deal to end a years-long criminal case against them.
All five entered into deferred prosecution agreements, meaning their indictments will be dismissed in a year if they stay out of trouble. They also agreed to fines ranging from $100,000 to $250,000.
The deal brings to an end a high-profile case that has worked its way through the courts since May 2006.
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