Saturday, November 8, 2008

Sentencing Gen Re Execs

Previously noted here, both the government and defense filed their sentencing memos in a case with arguments far apart on what should be the appropriate sentence for the defendants found guilty following a reinsurance contract between AIG and General Re. 

Douglas McLeod, over at Business Insurance, has been providing comprehensive coverage on the case here, the most recent entry being the judge's Ruling on Loss Calculation, Victim Enhancement, and Restitution here. The judge concludes that "30 levels will be added to the defendants’ guidelines for loss of more than $400 million, 6 levels will be added for more than 250 victims, and no restitution will be ordered."

But the actual sentence remains to be seen.  Courts now have the ability to look beyond mere mathematical calculations and sentence the individual. 

See also Doug Berman's Sentencing Law & Policy here.


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