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HARTFORD, Conn. — A former executive of insurance heavyweight American International Group Inc. was sentenced to four years in prison Tuesday in a fraud case that authorities say cost shareholders more than $500 million.

Christian Milton of Wynnewood, Pa., declined to comment during a hearing in U.S. District Court in Hartford. Judge Christopher Droney also fined Milton $200,000 and ordered him to report to the federal Bureau of Prisons on March 25.

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