AIG Target of Federal Grand Jury Investigation

American International Group Inc. (AIG) announced on Thursday it has been informed by the United States Attorney for the Southern District of Indiana that it is a target of a federal grand jury investigation.

According to the U.S. Attorney, “the investigation concerns ‘non-traditional insurance’ or ‘income smoothing’ products marketed by AIG that were directed at creating agreements with businesses that would appear to be insurance and accounted for as insurance, but did not involve any actual risk transfer.

More specifically, the investigation is directed at a contract between AIG and Brightpoint Inc.” that was previously investigated by the Securities and Exchange Commission (SEC).

AIG resolved the SEC’s investigation into the matter by a settlement that was announced on Sept. 11, 2003.

Latest Comments

• December 26, 2006 at 4:15 am

  Anonymous says:

  See americaninternationalgroupsucks.com New York State ATtorney General who went after Martha and Enron picked a more worthy adversary. AIG responded but it stock plummetted a... read more
• July 25, 2005 at 4:25 am

  Joseph says:

  since the accident I understand with all the accidents that the insurance companies that concern head injuries they know waiting causes irreputable damage , the pills that I t... read more
• October 26, 2004 at 10:34 am

  Aquagecko says:

  Since insurance is a business expense, AIG would sell you retroactive insurance the cost of which would substitute for company losses to make the bottom line appear better tha... read more