Spitzer says Marsh could face penalty 'far higher' than $500m
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The price for settling state charges of collusion and bid-rigging by the nation's largest insurance broker could be ''far higher&quot; than $500 million, New York Attorney General Eliot Spitzer said yesterday.
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The aftershocks of October&#39;s insurance scandal continued to punish Marsh &amp; McLennan (MMC:NYSE - news - research) Tuesday. Just weeks after it was hit with kickback and bid-rigging allegations, the New York
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MOSCOW The Russian oil company Yukos will have to pay a heavy price for not paying its taxes on time. The Moscow Arbitration Court ruled today it must pay some one-point-four (b) billion dollars in fines and
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Insurance broker Marsh &amp; McLennan Cos. said yesterday it is renegotiating terms of $2.8 billion of backup bank financing after New York Attorney General Eliot Spitzer sued the company last week. The move is likely to raise the company's borrowing costs.
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Securities regulators have ordered a division of Citigroup Inc. to pay $478,000 in a fine and restitution for allegedly recommending high-risk commodity futures funds to people who shouldn
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Marsh &amp; McLennan chief executive Jeffrey Greenberg could announce his resignation as soon as today as a result of New York attorney general Eliot Spitzer&#39;s investigation into alleged corruption in the insurance industry.
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The company said that federal regulators have intensified their inquiry into the company&#39;s business practices from an informal to a formal investigation, raising the possibility of embarrassing and expensive penalties down the line.
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NEW YORK - Marsh &amp; McLennan Companies Inc. is looking to collect about $230 million in incentive fees at the heart of a bid-rigging probe by New York authorities as a way to help fund a possible settlement over the questioned fees.
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Placement fees charged by broker Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) may be unethical and under intense scrutiny by regulators, but that
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New York Attorney General Eliot Spitzer filed a civil suit on October 14 against the worldâs largest insurance broker, Marsh &amp; McLennan, charging the US firm with bid-rigging and other practices
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NEW YORK: Marsh &amp; McLennan, the worldâs largest insurance broker, said on Tuesday it will reform its business practices and stop accepting fees at the centre of an investigation by New York attorney general Eliot Spitzer into bid rigging.
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Insurance brokerage firm Marsh &amp; McLennan (nyse: MMC - news - people ) was charged with fraud and antitrust violations in connection with allegations of bid steering and lucrative payoffs from major insurance firms, alleged New York State Attorney General
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Marsh & McLennan Cos. revealed what's at stake in the probe into its behavior by New York Attorney General Eliot Spitzer, saying it generated &#36;845 million of fat fees from a practice at the center of a bid-rigging scandal.
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Eliot Spitzer received an anonymous letter last March that made for intriguing reading. The message suggested that the New York attorney general poke around Marsh &amp; McLennan, the US&#39;s largest insurance broker
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New York Attorney-General Eliot Spitzer has been conducting a probe of the insurance industry but now says he will not bring criminal charges against the world&#39;s biggest insurance broker, Marsh &amp; McLennan.
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Marsh and McLennan is looking to collect about $230 million in incentive fees at the heart of a bid-rigging probe. The company says it will put the fees into a separate account to be used as
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Marsh &amp; McLennan Cos. revealed what&#39;s at stake in the probe into its behavior by New York Attorney General Eliot Spitzer, saying