Statement From Attorney General Cuomo Regarding New Development Over Aig Bonuses

My Office’s investigation of AIG is continuing and we are proceeding with our security assessment for the employees. Through that process, my Office has been working with AIG and its employees in an attempt to assess the status of the $165 million in bonuses that were paid on March 15, 2009.

We have been working our way down the list beginning with the recipients who received the largest bonuses. So far, 9 of the top 10 bonus recipients have agreed to give the bonuses back. Of the top 20, 15 have agreed to return the bonuses.

Of the $165 million pool, we calculate that employees have agreed to return approximately $50 million. It bears noting that 47 percent of the $165 million pool went to Americans (approximately $80 million).

I would like to say this to the individuals who have given the money back - You have done the right thing. You have done what this country now needs and demands. We are living in a new era of corporate and individual responsibility. I thank you for setting an example for the rest of the company.

I thank those employees. Our investigation and security assessment continues.