General Re Corporation and American International Group executives entangled in a 2000 loss-portfolio transaction have pleaded not guilty to charges laid against them on February 2.

The four executives entered not guilty pleas to charges of conspiring to commit fraud in connection with the transaction at a US district court last week. They were all charged with one count of conspiracy, four counts of securities fraud, two counts of making false statements to the US Securities and Exchange Commission, four counts of wire fraud and two counts of mail fraud.

The trial will begin on May 22.