New York Attorney General Eliot Spitzer on Thursday announced that a grand jury has indicted eight former executives of insurance brokerage Marsh & McLennan Companies Inc. on felonies involving bid rigging that allegedly cost corporate customers millions of dollars.
The former executives of Marsh & McLennan — the nation’s largest brokerage, headquartered in New York — were accused of colluding with executives at major insurance companies to arrange noncompetitive bids. These bids then were given to Marsh & McLennan clients “under false pretenses,” according to Spitzer’s statement.
