Oregon adds support to an investigation by the New Jersey Attorney General’s office into potential fraud related to bonuses paid to AIG executives after the company took billions of taxpayer dollars.

Attorney General John Kroger today joined 18 states demanding that AIG executives turn over information about millions of dollars of bonuses that were handed out while the federal government was bailing out the foundering company.

“I will not tolerate corporate fraud,” Attorney General Kroger said. “Our tax dollars should not be spent on multi-million dollar bonuses for executives who run their company into the ground.”

Kroger added his signature to a letter sent today by the New Jersey Attorney General’s Office demanding that AIG CEO Edward M. Liddy turn over a wide range of information about the employees who received the bonuses and those who negotiated and approved them.

The letter demands what Liddy has so far refused to turn over: a list of all employees of the AIG financial products subsidiary who received bonus compensation since September 2008.

The letter also demands copies of correspondence with shareholders and a list of all holdings and transactions by AIG executives during the relevant time period.

Attorney General John Kroger leads the Oregon Department of Justice. The Department’s mission is to fight crime and fraud, protect the environment, improve child welfare, and defend the rights of all Oregonians.

Contact:

Tony Green, (503) 378-6002 tony.green@doj.state.or.us |