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    • US indicts 7 for alleged $20 m fraud involving Bermuda ‘reinsurer’

    US indicts 7 for alleged $20 m fraud involving Bermuda ‘reinsurer’

    Seven people have been criminally indicted in the United States for an alleged securities fraud involving purported reinsurer Gerova Financial Group - a former Cayman Islands firm that moved to Bermuda - that brought them nearly $20 million in profits.