Finance officer Elizabeth Monrad gets 18 months
General Re former chief financial officer Elizabeth Monrad was sentenced to 18 months in prison yesterday for her role in a fraudulent scheme to manipulate AIG’s financial statements,
Monrad, 54, of New Canaan, Connecticut was also ordered to pay a $250,000 fine.
Monrad, who was Gen Re's chief financial officer from about June 2000 through July 2003 is the fifth executive to be sentenced. former Gen Re executives Ronald Ferguson, Robert Graham and Christopher Garand and Christian Milton, have all been found guilty after a federal court found that AIG's shareholders lost between $544m and $597m as a results of the fraudulent scheme.
Gen Re is owned by Warren Buffett's Berkshire Hathaway.
