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Corporate & Securities Law

: Antitrust Commentary

Marsh Executives Convicted of Bid Rigging

By Matthew S. Wild

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February 22, 2008. Two former Marsh executives (William Gilman and Edward McNenney) were convicted after a 10-month bench trial of bid rigging in violation of New York’s Donnolly Act. They were acquitted of grand larceny and engaging in schemes to defraud. These charges stem from Marsh’s scheme of steering business to insurers who paid Marsh the highest contingent commissions. The case was brought by the New York State Attorney General in New York State Supreme Court, New York County. In addition to agreeing to refrain from such conduct in the future, Marsh had paid $850 million to settle with the New York Attorney General . Another executive pleaded guilty to engaging in a scheme to defraud in 2005.

Full post as published by Antitrust Commentary on February 22, 2008 (boomark / email).

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