Justice Dept. Mulls Fairfax Probe--Report

Law360, New York (October 10, 2005, 12:00 AM EDT) -- The U.S. Justice Department is reported to be considering joining an investigation underway by the Securities and Exchange Commission of Fairfax Financial Holdings Ltd., a Canadian holding company active in U.S. reinsurance.

The Wall Street Journal reported Monday that a U.S. Attorney in Manhattan was working with the SEC, which is looking into Fairfax’s use of finite-risk reinsurance.

In a written statement issued Monday, Fairfax said it “has not received a subpoena or other information request from the U.S. Attorney’s Office.”

Toronto-based Fairfax, a financial services...
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