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Fraudster Is $5,000 Poorer But No Prisoner

In a convincing victory for justice, the former CEO of a Gen Re subsidiary was sentenced to the equivalent of a mild warning from a substitute teacher for his part in defrauding AIG investors of $597 million. John Houldsworth pleaded guilty in 2005 to conspiracy to commit securities fraud and then testified on the government's behalf to help convict 5 other executives involved in the fraud. In light of his "truly extraordinary" cooperation and heartfelt apology, Houldsworth's sentence was a crushing 2 years probation, $5,000 fine and 400 hours of community service.
Gen Re's Houldsworth Avoids Prison in AIG Fraud Case [Bloomberg]


Hank Greenberg Is Headed To Trial On Those Pesky Fraud Charges After All

No word yet on if there will be a chair at the defense table for Snowball Greenberg.

Former AIG CEO Hank Greenberg (Getty Images)

Judge Tosses Hank Greenberg’s Lawsuit Against Eliot Spitzer, Insults Him To His Face

The former AIG CEO is too blinded by hatred and rage to see any similarities between himself and the libidinous former governor.