AIG Under Scrutiny by Justice Department

12 Views
03/26/09

According to New York Attorney General Andrew Cuomo, 73 individuals received a bonus of one million or more. In addition, the top bonus recipient received more than $6.4 million, the top seven bonuses equated to $4 million, 22 employees were paid $2 million or more, and 11 recipients, who were no longer employed by AIG, received 'retention' bonuses of one million. These figures were released after Cuomo subpoenaed AIG as part of his office's investigation.



In a news brief, Attorney General Eric Holder revealed that, ''we're working with the Treasury Department to make them aware of what legal abilities they have. We have people in the Justice Department in various divisions who are trying to examine what tools the Treasury Department has in that regard.''

According to a statement issued on Tuesday by Treasury Secretary, Timothy Geithner, ''the Justice Department was looking at whether provisions of the recent economic stimulus bill could be used to recoup the money.''

Holder said that he intends to 'reinvigorate' enforcement against white-collar crime. He plans to accomplish this by hiring more prosecutors and FBI agents 'dedicated to investigating financial fraud.'

Holder maintains that ''the American people have a rightful expectation that this administration and this Justice Department will be examining this financial crisis to see whether or not a component of that has to do with illegal, inappropriate, fraudulent activity.''

Holder acknowledges that government and local agencies should work in conjunction and take a coordinated approach to the problem but he is undecided on whether to form a national financial fraud task force similar to the task force that investigated the wrongdoings of the energy trader, Enron.



Featured Testimonials

LawCrossing has great search engines and is extremely helpful. I found a job through the website. Thanks!
Melody


Facts

LawCrossing Fact #165: Go through our job listings to see what’s really going on out there in the job market!


Date
Location
Job Title
Jul 12, 16
AF-KABOL-Kabul
ERISA/Employee Benefits Attorney in Kabul, KABOL
In-House, Min 2 yrs required
Human Resource, Ethics and Training Advisor Duties: Assist counterpart judicial in...
Jul 04, 16
US-MD-Baltimore
Criminal Attorney / Litigation Attorney in Baltimore, MD
In-House, Min 10 yrs required
Senior Director, Criminal Justice Programs Duties: Will be responsible for managing ...
Jul 25, 16
US-MD-Baltimore
Criminal Attorney in Baltimore, MD
In-House,
Senior Director of Criminal Justice Programs Duties: Develop and manage annual pla...

Testimonial of the Week

Out of all the other job boards I have used, LawCrossing was definitely the most impressive. I have received many job interviews from jobs I applied to on your site.
  • Mark Herskovitz Los Angeles, CA
Job of the Day

Litigation Attorney in Las Vegas, NV

USA-Las Vegas

Attorney Duties: research laws and prepare legal briefs, opinions, and memoranda. Render opinions on liability, damag...

Employer: GEICO.

Job Search Tip

Bypass Personnel. Their job is to screen you out. And they're usually the last to know about an opening.