Law360, New York (April 30, 2009) — A former senior vice president of General Re Corp. has been ordered to spend just over a year in jail, becoming the last Gen Re executive to be sentenced in connection with an alleged fraud scheme that cost shareholders of American International Group Inc. close to $600 million.

On Thursday, U.S. District Judge Christopher Droney sentenced Robert Graham to spend a year and one day in prison as well as pay a $100,000 fine, far short of the…

Barbados Companies

General Re has been linked to Union Excess Reinsurance Co. Ltd. and Capco Reinsurance Co. Ltd. Both are Barbados companies. See previous post: Enron, AIG, PricewaterhouseCoopers and today’s Barbados Offshore Companies

This 2006 SEC complaint alleges: “103. AIG structured a sham transaction designed to convert underwriting losses to investment losses by moving them to an off-shore entity, Capco, a Barbados reinsurer.”

This old SEC report lists “Cologne Reinsurance Ltd., Reinsurer, Barbados” as a subsidiary of General Re.

I wonder if any Bajans will have to answer for this?