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Posts Tagged ‘Fraudulent

A consulting firm is warning that financial firm risk managers face increasing peril from fraudulent claims on behalf of bankrupt companies.

The activity is detailed in a study ?Risky Business: Financial Firms Face Wave of Fraudulent Transfer Claims,? released by Navigant Consulting, Inc. (NCI), and the Economist Intelligence Unit (EIU).

According to the companies, there has been a ?dramatic uptick in the number of fraudulent Read the rest of this entry »

WASHINGTON, Jan. 27 /PRNewswire-USNewswire/ — The former vice president of reinsurance of American International Group Inc. (AIG), was sentenced today to four years in prison for his role in a fraudulent scheme to manipulate AIG’s financial statements, the Department of Justice announced.

Christian M. Milton, 61, of Wynnewood, Pa., who served as vice president of reinsurance at AIG from approximately 1982 to March 2005, was convicted Read the rest of this entry »