In response to public outcry regarding bonuses given to executives of the American International Group, New York Attorney General Andrew Cuomo issued subpoenas today to obtain the names of the AIG employees given lucrative bonuses.
According to Attorney General Cuomo, his office will investigate whether the $165 Million in bonus payments are fraudulent under state law because they were promised when the company knew that it would not have the money to cover them.
AIG has received roughly 170 billion in federal funds, and earlier this month reported the largest corporate loss in history, more than $61.7 billion dollars. Read more here about New York Attorney General Cuomo's fraud investigation.
DLG Luce is a civil litigation law firm based in San Antonio, Texas with a second office in Austin, Texas. We represent clients in business matters, including comlpex business litigation and general business counsel.
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