ALBANY, N.Y. — New York Attorney General Andrew Cuomo said Monday he will issue subpoenas for information on the millions of dollars in bonuses that American International Group gave employees after the struggling insurance giant missed his deadline for providing details.
Cuomo says his office will investigate whether the employees were involved in AIG’s near-collapse and whether the $165 million in bonus payments are fraudulent under state law.
AIG has benefited from more than $170 billion in a federal rescue and reported this month that it lost $61.7 billion in the fourth quarter of last year, the largest corporate loss in history.
Cuomo had set a 4 p.m. Monday deadline for the company to provide the employees’ names along with information about their work and contracts.
The Associated Press
