Insurer reaches agreement with SEC, Justice Department
Tuesday, Nov. 23, 2004 | 9:28 a.m.
American International Group Inc., the world's largest insurer, reached preliminary agreements with federal regulators investigating transactions that may have let clients such as PNC Financial Services Group Inc. inflate profit.
The agreements with the U.S. Securities and Exchange Commission and the Department of Justice stem from products American International designed to help PNC remove bad loans from its books and an insurance policy it sold to Brightpoint Inc., the New York-based company said in a statement. American International didn't disclose terms of the settlements.
American International Chairman Maurice "Hank" Greenberg, 79, wants to clear the federal inquiries to focus on New York Attorney General Eliot Spitzer, who is investigating collusion with insurance brokers, said Stuart Quint, an analyst at Gartmore Global Investments. Two American International executives last month pleaded guilty to charges they fabricated bids and have agreed to testify in future cases.
archive
- Most Read
- Discussed
- Most E-mailed
- Palin craze puzzling, given ’08 disaster
- The ins and outs of CityCenter traffic
- Vdara hotel marks opening of CityCenter
- Henderson postpones vote on massage parlor law
- MGM Mirage begins lifting veil on CityCenter today
- Despite few points, inspiration keeps ‘Chop’ high on plus-minus list
- Greenspun reorganizes local media operation, cuts staff
- Harry Reid on mortgages: ‘Bank of America must do more’
- Search committee to narrow UNLV athletic director list
- UNLV’s poise to be tested in first road game of season
Blogs
Politics: Ralston's Flash
Brian Sandoval is still against taxes, for limiting government and empowering people (6 Comments)
Elsewhere
TCU extends Gary Patterson through 2016
The Kats Report
Dissimilar landmarks -- Binion's and CityCenter -- reflect today's Las Vegas (7 Comments)
High School Sports Scene
Prep Football: State Championship (4 Comments)
Elsewhere
UFC debut in Boston likely July or August (1 Comment)
The Kats Report
Planet Hollywood's Thomas McCartney headed for Tropicana (17 Comments)
Elsewhere
LV woman robs Kentucky strip club, police say (6 Comments)
Calendar »
- 2 Wed
- 3 Thu
- 4 Fri
- 5 Sat
- 6 Sun
-
Nic Faniciulli at Godskitchen
Body English | 10:30 p.m. to 11:59 p.m.
-
Mischieve Wednesdays at T&T
Tacos and Tequila
-
Ben Sherman gift bag giveaways at Wasted Space
Wasted Space | 10 p.m. to 11:59 p.m.
The Sun
Locally owned and independent for more than 50 years.
Technorati






