15 AIG staff return their bonuses

New York, Mar 25: Fifteen of 20 American International Group leading bonus recipients have agreed to give them back in full, said New York"s top legal officer who is probing into $165 million in executive pay at the troubled company bailed out by the US government.

New York Attorney General Andrew Cuomo told reporters on a conference call on Monday, Mar 23 that he hopes to recoup $80 million of bonus payments made to Americans, or about half of $165 million paid by the giant insurer on March 15.

An AIG spokeswoman said late Monday, Mar 23 a “handful" of senior executives have resigned from its Financial Products unit, which Cuomo blamed last week for bringing the insurer to the brink of collapse. It was unclear if any of the executives with the top bonuses had resigned.

OneIndia News