{"id":71,"date":"2006-02-09T08:53:23","date_gmt":"2006-02-09T14:53:23","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/?p=71"},"modified":"2011-11-19T23:06:38","modified_gmt":"2011-11-20T05:06:38","slug":"aig-settles-for-16-billion","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/aig-settles-for-16-billion\/","title":{"rendered":"AIG Settles for $1.6 billion"},"content":{"rendered":"<p>American International Group Inc (AIG) has finalized a settlement of $1.6 billion for allegations of accounting fraud. The settlement will be split almost equally between the Securitites and Exchange Commission (SEC) and the State of New York.<\/p>\n<p>Civil fraud charges were brought against AIG by New York Attorney General Eliot Spitzer and the New York State Insurance Department. The SEC hadn&#8217;t yet filed charges, but is expect to file and settle all charges soon.<!--more--><\/p>\n<p>The settlement includes payment of fines, restitution, and disgorgement of ill-gotten gains. $375 million of the settlement will go to AIG policyholders who were injured because of alleged bid-rigging for commercial insurance policies.<\/p>\n<p class=\"times\">AIG is also agreeing to business reforms, including not paying certain commissions to brokers and submitting annual reports to regulators. AIG is the world&#8217;s largest insurer with a market capitalization of almost $171 billion.<\/p>\n<p class=\"times\">Check out Sequence Inc.&#8217;s<a href=\"http:\/\/www.sequenceinc.com\/index.php?option=com_content&amp;view=article&amp;id=387&amp;Itemid=67#insurance\"> insurance fraud investigation services\u00a0here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American International Group Inc (AIG) has finalized a settlement of $1.6 billion for allegations of accounting fraud. The settlement will be split almost equally between the Securitites and Exchange Commission (SEC) and the State of New York. Civil fraud charges [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[1253,1760],"class_list":["post-71","post","type-post","status-publish","format-standard","hentry","category-fraud-news-stories","tag-aig","tag-insurance-fraud"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-19","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/71","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=71"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/71\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=71"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=71"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=71"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}