AIG, Regulators Near $1.5B Settlement

Law360, New York (February 6, 2006, 12:00 AM EST) -- Federal prosecutors and American International Group are expected to ink a $1.5 billion settlement this week, marking a distinct victory for New York Attorney General Eliot Spitzer and bringing an end to the investigation into an alleged multimillion dollar accounting fraud at the insurance giant.

The settlement would end both the criminal investigation initiated by Spitzer and the civil probe conducted by the Securities and Exchange Commission.

Spitzer has been in pursuit of AIG for nearly four years, first looking into allegations of bid rigging at...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.