Ex-AIG Worker Sentenced to 1 Year in Prison for $500K Theft

March 27, 2009

A federal judge in Delaware has sentenced a former AIG employee who stole nearly $500,000 over four years to a year and a day in prison

Stacey Baisden, who pleaded guilty to mail fraud last year, apologized in court Wednesday. She said her theft spiraled out of control once she brought friends into the scheme.

Baisden was in charge of issuing checks for the Delaware AIG subsidiary, American Life Insurance Co. also known as ALICO, and started stealing when her supervisor was out on a long sick leave.

Court papers state Baisden faked approvals from supervisors and hid the charges in departments where there were a large volume of similar expenses to avoid detection.

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Information from: The (Wilmington, Del.) News Journal

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