Massachusetts Attorney General Tom Reilly said he is investigating ousted MassMutual Chief Executive Officer Robert O’Connell on “serious allegations of wrongdoing.”
In a prepared statement, Reilly said he was contacted by representatives of the Springfield-based insurer last week. “We conducted a preliminary review of documents they provided and met…with representatives of the company.”
O’Connell was dismissed June 2 by the board after serving 7 years as CEO of the company.
Meanwhile, the company also is undergoing its periodic financial examination by the Massachusetts Department of Insurance.
“The primary objective of the examination is solvency issues, but the commissioner has broad powers to look at all aspects of the company’s operations,” said Chris Goetchus, spokesman for the department.