NEW YORK — New York Attorney General Andrew Cuomo said Monday that 15 employees who received some of the largest bonuses from American International Group have agreed to return the money in full.
The commitments amount to more than $30 million of the $165 million in bonuses awarded earlier this month by the troubled insurer.
Cuomo said he still hopes that more AIG employees will return their bonuses. He expects his office will be able to recoup about $80 million of the money the insurer paid out.
AIG chief executive Edward Liddy told Congress last week that some of the employees were willing to give the money back. AIG has come under heavy criticism because the bonuses were given to employees after the company received $170 billion in government bailout money. Cuomo had sought the names of the employees who received bonuses from Liddy through a subpoena.
Cuomo said he doesn’t plan to release the names of the employees who have agreed to return the bonuses, and said there is no implied threat that if an employee doesn’t consent to returning the bonus his name will be released.
He said his office is continuing to assess the security of the employees, some of whom have received threats.
About 400 employees and future employees in AIG’s financial products division received bonuses. Documents provided by AIG to the Treasury Department said the awards ranged from $1,000 to nearly $6.5 million.
Separately, Connecticut’s consumer protection division has subpoenaed AIG, demanding that the contracts and names of employees who received the bonuses be provided by March 27. Gov. M. Jodi Rell has said she wants the division to determine whether the bonuses can be voided under the Connecticut Unfair Trade Practices Act.
AIG’s financial products division has its headquarters in Wilton, Conn.
