Minnesota Attorney General To Insurance Giant: Pay Up!

Law360, New York (February 17, 2006, 12:00 AM EST) -- Minnesota Attorney General Mike Hatch has filed suit against American International Group Inc. in an attempt to recoup millions of dollars he claims the insurer owes the state as a result of fraudulent accounting procedures.

AIG, a multibillion dollar insurance company currently mired in a bevy of accounting and fraud scandals, has recently been forced to pay $1.64 billion as a result of a New York lawsuit in which the insurer was charged with fraudulent bookkeeping practices, bid rigging and misleading investors.

The agreement requires AIG...
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