Buffett testimony wanted

Warren Buffett. Photo / Reuters

NEW YORK - Federal prosecutors intend to call billionaire investor Warren Buffett to testify against five former senior insurance executives charged with helping the American International Group to manipulate its financial statements through US$500 million ($658 million) in phony transactions, according to court papers filed on Tuesday.

The former executives - four from the General Reinsurance Corporation and one from AIG - were indicted by a federal grand jury last year on charges of fraud, conspiracy and lying to the Securities and Exchange Commission in connection with what the Government calls a scheme to inflate AIG's reserves, according to a report first published in the New York Times.

- AP