In February a U.S. district court jury in Hartford convicted Graham–Gen Re’s former assistant general counsel–and four other executives of multiple counts of securities fraud. At a September 25 sentencing hearing before Judge Christopher Droney, prosecutors argued that Graham should face a stiff penalty because he abused a position of trust and used his special skills and knowledge as a lawyer to further the fraud.
The government is also asking for similarly harsh prison terms for three of Graham’s codefendants–Ronald Ferguson, Gen Re’s former CEO; Elizabeth Monrad, the company’s ex–CFO; and Christian Milton, the former vice president of reinsurance at AIG. Prosecutors are suggesting a shorter sentence for a fifth defendant–Christopher Garand, Gen Re’s former chief underwriter–who was convicted on fewer counts.
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