A.I.G. Fires Two for Failing to Cooperate with Government Investigators

From the New York Times:

A.I.G. Fires 2 Executives for Not Helping in Inquiry

By JENNY ANDERSON

Published: March 22, 2005

Two top executives at American International Group, the insurance company, were dismissed yesterday for refusing to cooperate with regulators in a widening investigation of the accounting for some insurance transactions.

The two executives - Howard Smith, the chief financial officer, and Christian Milton, the vice president for reinsurance - were both dismissed yesterday after invoking their Fifth Amendment rights against self-incrimination in dealing with regulators investigating a transaction between A.I.G. and General Re, a reinsurance unit owned by Berkshire Hathaway, people close to the investigation said last night.

The two executives had previously been placed on leave.

Read the rest here.

-- MDT