EXECUTIVE LIFE
September 1st, 2002
BY PHILIP FINE
THE UNITED States Congress is to take a close look at an allegedly fraudulent and
secret 1993 purchase of a failed California life-insurance company, a deal that has led to criticism being levelled at the US Department of Justice.
A House of Representatives Government Reform Committee has scheduled a hearing for October 10 to find out why the justice officials did not conclude its investigations surrounding a US$3.2 billion purchase of Executive Life Insurance by Altus, a front company for French bank Credit Lyonnais.
Altus had bought the ...
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