Two Zurich execs plead guilty in Spitzer insurance probe News
Two Zurich execs plead guilty in Spitzer insurance probe

[JURIST] Two senior insurance underwriters with Zurich Financial Services, the third-largest commercial insurer in the US, pleaded guilty Tuesday night to charges connected to NY Attorney General Eliot Spitzer's ongoing insurance bid-rigging investigation. Also Tuesday, Zurich reported receiving a subpoena from the SEC and Spitzer. The executives pleaded guilty to following instructions from brokers to submit losing bids, allowing contracts to go to designated parties. Both face up to a year in prison on the charges under NY's Donnelly Act. Spitzer's office has a press release on the plea deal. JURIST's Paper Chase has ongoing coverage of Spitzer's investigation into the insurance industry. The Financial Times has more.

9:30 AM ET – The Hartford Courant reports that investigations into the insurance industry are expected to widen following testimony by state officials and regulators before Congress Tuesday.

THIS DAY @ LAW

Supreme Court said busing could be used to achieve racial integration

On April 20, 1971, the Supreme Court ruled unanimously in Swann v. Charlotte-Mecklenburg Board of Education that busing of school students could be ordered to achieve racial desegregation.

League of Nations dissolved

On April 20, 1946, the League of Nations was officially dissolved with the close of its final session. Thirty-four countries had attended the final meeting at which they elected to dismantle the organization and bequeath its assets to the United Nations.

Read a history of League of Nations from the UN.

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