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"Do I have a Vioxx Case?" : Vioxx Blog : 2005-01-10 : Article
VP Pleads Guilty In Marsh Case
You want to know why insurance rates are high... read this.
NEW YORK - In the headlines this afternoon, a Marsh & McLennan executive pleaded guilty to criminal charges related to fraud and bid-rigging. Robert Stearns, a senior vice president and 20-year veteran at the firm faces up to four years in prison. He's the first Marsh employee convicted since New York Attorney General Eliot Spitzer sued insurance brokerage giant Marsh & McLennan (nyse: MMC - news - people ) for corrupt business practices in October, a move that sparked an industry-wide crackdown. Since the lawsuit, two executives at American International Group (nyse: AIG - news - people ), two from Zurich American Insurance and one from ACE (nyse: ACE - news - people ) have entered pleas on similar charges.
