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US: A.I.G. to Pay $1.6 Billion to Settle Charges
by Vikas Bajaj, The New York Times
February 9th, 2006
New York State and federal charges that the company engaged in fraud, bid-rigging and improper accounting.
The American International Group, the insurance giant, agreed today to pay more than $1.6 billion to settle
Half of the money will go to investors, $375 million will be repaid to policy holders and the rest, $344 million, will go to states harmed by the company's actions. New York State will also collect a separate $100 million penalty and the federal government will receive $25 million.