AIG Agrees to Pay $126M to Settle SEC, Justice Department Charges

Hume, Lynn
December 2004
Bond Buyer;12/1/2004, Vol. 350 Issue 32020, p7
Trade Publication
This article reports that American International Group Inc. (AIG), the world's largest insurer by market value, and two of its subsidiaries yesterday agreed to pay $126 million in penalties and restitution to settle Justice Department and Securities and Exchange Commission criminal and civil securities law charges stemming from the offer and sale of an earnings management product that essentially allowed companies to cook their books. The charges stem from AlG's offer and sale of an earnings management product that essentially helped other companies cook their financial books.


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