DOJ Ends Fraud Probe Of Ex-AIG Unit Head

Law360, New York (May 24, 2010, 12:56 PM EDT) -- The U.S. Department of Justice has dropped a securities fraud investigation of Joseph Cassano, who led the American International Group Inc. financial products unit that was largely blamed for the insurance giant's near-collapse.

Cassano's lawyers, F. Joseph Warin and Jim Walden of Gibson Dunn & Crutcher LLP, confirmed late Friday that the DOJ had abandoned its probe but wouldn't reveal details of the investigation.

“Although a two-year, intense investigation is tough for anyone, the results are wholly appropriate in light of our client's factual innocence,” the...
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