Judge Sentences Former Gen Re Exec to One Year and Day

A federal judge in Hartford, Conn., on Wednesday sentenced Christopher Gerand, a former General Re Corp. senior vice president, to one year and a day in federal prison for his role in the accounting fraud scandal that authorities say cost shareholders of American International Group more than $500 million, according to press reports.U.S. District Court Judge Chistopher Droney also fined Gerand, a Saddle River, N.J. resident, $150,000 and sentenced him to two years of unsupervised release. Gerard, 59, participated in sham finite-risk insurance scheme whereby AIG paid $500 million in one quarter...