CDR Enterprises

The US Department of Justice will receive $225 million to release the company from Executive Life Insurance Co. fraud claims. CDR already paid the Department $375 million in 2003. Aurora National Life Assurance Co., who purchased Executive Life bonds under misinformed pretenses, has agreed to pay $80 million to the Department. It is a violation of California's competition laws to allow foreign government to purchase insurance stocks. (Feb-16-05) [BUSINESS INSURANCE]

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