AIG settlement due shortly: source
NEW YORK (Reuters) – American International Group Inc., the
world’s largest insurer, is expected to reach a settlement
totaling at least $1.5 billion with U.S., state and insurance
regulators this week, a source close to the investigation said
The settlement would resolve allegations of accounting
fraud and bid rigging brought by New York Attorney General
Eliot Spitzer last May.
The settlement would also involve the U.S. Securities and
Exchange Commission and the New York State Department of
Insurance, the source said.