In one of the largest regulatory settlements ever, American International Group Inc. will pay more than $1.6 billion to settle allegations that it used deceptive accounting practices to mislead investors and regulators.

The settlement, announced by the New York Attorney General's Office, requires the insurer to adopt changes in its business practices to ensure proper accounting procedures in the future.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access