American International Group Inc
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American International Group Inc. SCANDAL (2005)
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Transcript of American International Group Inc
![Page 1: American International Group Inc](https://reader035.fdocuments.in/reader035/viewer/2022062320/563db87b550346aa9a9418fb/html5/thumbnails/1.jpg)
American International Group Inc. SCAND
AL (2005)
![Page 2: American International Group Inc](https://reader035.fdocuments.in/reader035/viewer/2022062320/563db87b550346aa9a9418fb/html5/thumbnails/2.jpg)
World’s largest insurance and financial services company 65,000 employees Business in 130 countriesPresident & CEO - Peter HancockShareholder’s equity (2014): $107.3 billion Net Income 2014: $7.52 billion
AIG Overview
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There was a massive accounting fraud, leading to roughly 3.9 billion, along with stock price manipulation.
Recorded loans as revenue Ex: 500M loan from Gen Re
Hide loss in financial statement Didn’t record deferred acquisition cost
in timely manner
What Happened?
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Who was involved?
HANK GREENBURG
CEO of AIG 1968-2005
Participation on f