Marsh escapes criminal charges with reforms
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Marsh &amp; McLennan, the US broker at the centre of price-fixing allegations, neatly sidestepped the prospect of criminal charges yesterday with a wide-ranging reform of its business.
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Struggling to reorganize after being accused of cheating its customers, Marsh &amp; McLennan, the world&#39;s largest insurance broker, said yesterday that it was removing the five company executives
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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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cLennan Cos&quot;/&gt;Marsh &amp; McLennan, which the New York attorney general&#39;s office has accused of bid-rigging and price-fixing, said last night that it was setting up a fund to be used for restitution in any settlement agreement.
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Marsh &amp; McLennan Cos.&#39;s new chief executive said Tuesday the embattled firm will pay back any customers who were harmed by bid-rigging and other illegal activities uncovered by New York Attorney
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A federal judge yesterday upheld some of the main charges against former brokers at the Boston office of Prudential Securities who securities regulators said hid thousands of improper trades that defrauded dozens of mutual fund companies.
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When New York Attorney General Eliot Spitzer accused insurance broker Marsh &amp; McLennan Cos. last month of taking kickbacks from insurers, resulting in higher premiums for clients, he raised questions for the
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Jeffrey W. Greenberg yesterday resigned as chairman and chief executive of embattled Marsh &amp; McLennan Cos. and said that the firm will announce &quot;significant reforms&quot; today, a move that avoids criminal prosecution of the insurance broker.
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Two top-ranking executives of the insurance brokerage unit at Marsh &amp; McLennan Company and the company&#39;s general counsel were forced out yesterday as Marsh took another step in reorganizing
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DETROIT - A federal judge yesterday threw out the terrorism charges against two men convicted last year in a case once hailed by the Bush administration as a major victory in the war on terror.
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A U.S. judge dismissed criminal  charges on Monday against 13 of 16 former employees of  accounting firm KPMG in a tax-shelter case, saying prosecutors  inappropriately interfered with their defense.
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Marsh &amp; McLennan will see no criminal charges from the New York Attorney General Eliot Spitzer as the company moves towards positive changes in its staff.
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The new boss of scandal-hit US insurance broker Marsh & McLennan says he expects to settle charges brought by New York's attorney-general.
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Shares of Marsh & McLennan rose Thursday following a report that a key executive at its insurance brokerage unit had resigned and that a reorganization of the group was imminent.
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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.
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Prosecution lawyers are criticised for failing to inform victims of crime when charges are dropped or changed.
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The $850 million settlement Marsh &amp; McLennan Cos. reached with New York Attorney General Eliot Spitzer yesterday will have a small but positive effect on its mutual-fund subsidiary, Putnam Investments, but is unlikely to resolve whether the Boston firm should split from its corporate parent, analysts said yesterday.