AIG

AIG poised to return $843m to investors

Investors in American International Group will soon receive $843m put aside for them as part of a 2006 settlement with the Securities and Exchange Commission over accounting mis-statements.

Cheques will be sent to more than 257,000 affected AIG investors within the next few months, the SEC said on Tuesday.

The funds were set aside after the insurer, now 80 per cent owned by the federal government, settled allegations that it had falsified its financial statements between 2000 and 2005 through a variety of sham transactions and entities.

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