On December 16, 2008, the United States District Court for the District of Connecticut sentenced Ronald E. Ferguson, CEO of Gen Re Corporation, on charges of conspiracy, securities fraud, and mail fraud for his role in orchestrating an illegal scheme that resulted in almost $600 million in market decline of AIG Corporation's stock price. Despite the Federal Sentencing Guidelines (Guidelines) recommending life in prison for these crimes, the court sentenced Ferguson for two years. At sentencing, the court emphasized that Ferguson did not gain directly from this loss amount. Instead, this amount resulted from later marketplace transactions. Click here to continue reading.