|
CNBC'S MOST SHARED
- Unemployed? Bored? Make Money Playing Beer Pong
- Social Networking's 'Naked' Truth
- The Highest Grossing (Inflation Adjusted) Movies of All Time
- WPP's Sir Martin Sorrell on the Ad Recession
- Merrill's McCann Seen as UBS Wealth Frontrunner
- Geek Squad V. Gizmodo
- Warren Buffett's Top Three Investment Rules for the Average American
- Why You Should Watch Fund Flows
- Roginsky: No More Mr. Nice Guy
- Stimulus Will Kick in Later this Year: President Obama
- Lender CIT Group Hires Premier Bankruptcy Adviser
- Government Selling Bank Stakes for Too Cheap: Panel
- Buffett's Top 3 Investment Rules for Average Americans
- Market Insider: Earnings Loom in the Week Ahead
- Bulls Get Summertime Blues, But It's Hot Fun for Bears
- As Banks Fail, Strong Institutions Become More Visible
- GM IPO in Second Quarter 2010 at the Earliest: CFO
- Merrill's McCann Seen as UBS Wealth Frontrunner
- Eric Schmidt on Government Scrutiny and Economic Recovery
- Market 360: The Week's Best & Worst
- Geek Squad V. Gizmodo
- Brandt: Google Chrome OS in the Post-PC Age
- Other People Are Weirder Than We Are
- Bank Failures: Is The Nightmare Over? (Video)
- California Here I Go? No.
- Roginsky: No More Mr. Nice Guy
- Commercial Conundrum
Text Size 
The U.S. Securities and Exchange Commission is investigating whether American International Group overstated the value of contracts linked to subprime mortgages, the Wall Street Journal said on Friday, citing people familiar with the matter.
The way AIG valued credit default swaps, including those backed by subprime mortgages, is at issue, the newspaper said.
Prosecutors from the U.S. Department of Justice and the U.S. attorney's office in Brooklyn, New York have asked for information the SEC is gathering, which could signal a criminal investigation, the newspaper said.
AIG [AIG
Loading...
()
] , the SEC, the Justice Department and the U.S attorney did not immediately return calls seeking comment.
According to the newspaper, an AIG spokesman said the company would co-operate in regulatory and governmental reviews on all matters.
Credit protection costs have risen for AIG, the world's largest insurer, in recent months as losses mounted from mortgage-related investments.
It posted its largest ever quarterly loss of $7.8 billion last month after writing down assets linked to subprime mortgages.
AIG in 2006 settled an accounting scandal for $1.6 billion.
The probe had earlier led to the ouster of AIG's longtime chief executive, Maurice "Hank" Greenberg.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes