Lawyer Says Buffett Knew About Deal With AIG

Law360, New York (February 13, 2008, 12:00 AM EST) -- As the fraud trial of four former General Reinsurance executives and a former officer of American International Group draws to a close, a defense attorney has placed blame on billionaire investor Warren Buffett.

The lawyer for Ronald E. Ferguson, the former chief executive of General Re, said in closing arguments Tuesday that his client relied on his boss, Buffett, before he entered into the alleged sham deal with AIG.

Buffett, who heads General Re's parent company, Berkshire Hathaway, has not been charged with any wrongdoing and...
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