NY: AIG Numbers Confirmed
March 17th, 2009 at 12:22 pm - by admin
NY District Attorney Andrew Cuomo confirmed Tuesday, after receiving a subpoenaed report from the company itself, that AIG paid out $1 million or more to at least 73 employees, including 11 who no longer work for the company.
In bonuses paid out Friday, the highest bonus was $6.4 million, while 7 of the 73 got more than $4 million each, totaling $160 million.
Cuomo believes that these payments may constitute fraud under strict New York legislation, despite the company saying it was contractually obligated to pay the funds.
Meanwhile, National Economic Council Chairman Lawrence Summers said that the Obama administration will work in parallel with Cuomo’s attempts to ensure that these payments are blocked, reversed or otherwise managed in hopes of recovering at least some of the $160 million in taxpayer funds.

