An executive of Berkshire Hathaway Inc.’s Gen Re insurance unit will plead guilty later this week to a criminal charge that he helped rival American International Group Inc. exaggerate its finances and will cooperate in the continuing investigation, his lawyer said Monday.

John Houldsworth, 46, will plead guilty to one count of conspiring with others to misstate the financial statements of AIG, the nation’s biggest insurance company, his lawyer, Larry Byrne, said in a statement.

Houldsworth, who was CEO of Cologne Re Dublin, a General Re unit, from May 1990 to June 2001, would be the first to plead guilty in the multiple probes of whether AIG manipulated its finances. He is on paid leave at General Re.

In a separate civil complaint filed in U.S. District Court in Manhattan on Monday, the SEC accused Houldsworth and other senior Gen Re executives of aiding and abetting AIG’s securities fraud.



We're here to help!

We live by our creed of “helping those who need it most” and have helped thousands of clients get the justice they desperately needed and deserved. If you feel you have a case or just have questions please contact us for a free consultation. There is no risk and no fees unless we win for you.

Fields marked * may be required for submission.


I never dreamed how much this would mean to me

I received another check today, much to my surprise. Thank you, thank you, thank you! I never dreamed how much this would mean to me in my golden years, as I have had hearing problems for years and needed to update my hearing aids, but with a limited income, found that was impossible. I now have the best hearing aids that I have ever had, thanks to you fighting so hard on my behalf.

—Gladys