Spitzer: Insurance Scheme Rigged Bids
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Insurance brokers required to provide competing bids to customers seeking the best deal have been taking payoffs from insurance companies to rig the system in widespread corruption in the industry, New York Attorney General Eliot Spitzer charged Thursday.
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He's faced down Wall Street investment banks, exposed late-trading at mutual funds and discovered bid-rigging among some of the nation's biggest insurance companies.
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State Attorney General Eliot Spitzer sued the world&#39;s largest insurance broker and lodged criminal charges against two insurance executives, accusing the brokerage of taking improper payments to steer business to certain companies.
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Marsh &amp; McLennan, the US insurance broker accused of rigging the market to win bogus fees from customers, yesterday warned lines of credit from lenders
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The City watchdog asks insurers and brokers to inform on firms that they think are committing fraud.
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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" than $500 million, the New York Attorney General said today.
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Disclosures of bid-rigging within the insurance industry may lead Congress to a &#39;&#39;Pandora&#39;s box&quot; of unethical conduct, a top investigator told Congress
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The investigation of insurance practices by the New York attorney general, Eliot Spitzer, is causing wide ripples in the British market, the cradle of the industry.
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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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A Marsh & McLennan Cos. Inc. insurance  broker, Senior Vice President Robert Stearns, on Thursday  pleaded guilty to criminal charges in connection with an  ongoing probe into fraud and bid-rigging in the insurance  industry, New York Attorney General Eliot Spitzer's office  said.
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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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A Marsh & McLennan Cos. Inc. MMC.N  insurance broker, Senior Vice President Robert Stearns, on  Thursday pleaded guilty to criminal charges in connection with  an ongoing probe into fraud and bid-rigging in the insurance  industry, New York Attorney General Eliot Spitzer's office  said.
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New York Attorney General Eliot Spitzer has sued Marsh, alleging that the world&#39;s largest insurance broker steered unsuspecting clients to insurers with whom it had lucrative payoff agreements, and that the firm solicited rigged bids for insurance
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Companies caught up in New York state Attorney General Eliot L. Spitzer&#39;s investigation into rigged bids and kickbacks in the insurance industry began firing and suspending
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The insurance broker accused by the New York attorney general of bid rigging and price fixing faces another threat: lawsuits filed by angry customers and the company&#39;s own shareholders, who are upset the company&#39;s stock has plummeted.
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NEW YORK - New York Attorney General Eliot Spitzer, who is probing bid-rigging in the insurance industry, expects to file suit against health insurance consultant Universal Life Resources as early as Friday, a spokesman for his office said.
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NEW YORK New York Attorney General Eliot Spitzer says the price for settling state charges of collusion and bid rigging by the nation&#39;s largest insurance broker could be &quot;far higher&quot; than 500 (m) million dollars.