UK Fraud Office Drops AIG Financial Products Probe

Law360, New York (May 26, 2010, 12:49 PM EDT) -- The U.K.'s Serious Fraud Office has dropped its investigation into American International Group Inc.'s financial products unit over possible misconduct related to credit default swaps and other derivatives a little over a year after it began.

The SFO revealed its decision Wednesday, saying it had “insufficient evidence” to bring a court case against AIG Financial Products Corp.

"We welcome the Serious Fraud Office's decision, and we continue to cooperate with other authorities on their assessment of these events as we focus on strengthening our businesses and...
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