August 4, 2005
Spitzer Raking in Pleas
N.Y. Attorney General Eliot Spitzer is building a pretty impressive file of pleas in the ever continuing investigation of the insurance industry. Bloomberg News reports here in the New York Times that the latest pleas are "[t]wo former insurance brokers at the Marsh & McLennan Companies and a former underwriter at Zurich Financial Services." Although the pleas are to felonies, if cooperation is provided to the NY AG's office the charges may be reduced to misdemeanors. It is amazing what cooperation can buy these days.
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