Cuomo: 15 AIG Execs To Return Bonuses
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March 24, 2009 Tuesday 01 EDITION
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HEADLINE: Cuomo: 15 AIG execs to return bonuses
Cuomo: 15 AIG execs to return bonuses
By ap
Associated Press
NEW YORK - New York Attorney General Andrew Cuomo says 15 employees who received some of the largest bonuses from American International Group have agreed to return the money in full.
The commitments amount to more than $30 million of the $165 million in bonuses awarded earlier this month by the troubled insurer.
Cuomo says he still hopes that more AIG employees will return their bonuses. He expects his office will be able to recoup roughly $80 million of the money the insurer paid out.
Last week, AIG's chief executive, Edward Liddy, told Congress that some of the employees were going to give the money back.
AIG has come under heavy criticism because the bonuses were given to employees after the company received $170 billion in government bailout money.
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