Eight Former Marsh Execs Indicted for Fraud

New York state regulators on Thursday announced the indictment of eight former executives of Marsh Inc. for their alleged roles in a massive bid-rigging scheme that defrauded clients of millions of dollars. In a joint press release, New York state Attorney General Eliot Spitzer and Insurance Superintendent Howard Mills said the former executives are accused of colluding with leading insurance companies to arrange noncompetitive bids and conveying these bids to Marsh clients under false pretenses. The indictments come after 17 individuals at five companies, including eight former Marsh ...