AIG Execs Escape Prosecution

Scot Free?

Updated Apr. 25, 2017 10:00AM EDT / Published May 22, 2010 3:04AM EDT

Nearly two years after AIG collapsed, federal investigators have decided that the insurer’s executives did nothing wrong—or at least nothing criminal. The investigation, whose details were a closely guarded secret, focused on whether AIG’s executives, led by Joseph Cassano in London, deliberately misled investors and an outside auditor about the firm’s financial exposure, particularly on several deals tied to mortgages. Still, AIG isn’t in the clear just yet. The Securities and Exchange Commission could yet bring a civil-fraud lawsuit for securities violations—much like the one that rocked Goldman Sachs last month.

Read it at The Wall Street Journal

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AIG Execs Escape Prosecution