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AIG to pay $725 million for fraud cases

Last Updated : 18 July 2010, 16:46 IST
Last Updated : 18 July 2010, 16:46 IST

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It would shell out $725 million to settle the charges slapped against it by three pension funds —  Ohio Public Employees Retirement System, the State Teachers Retirement System of Ohio and the Ohio Police and Fire Pension Fund. Meanwhile, the pension funds had alleged that AIG engaged in straightforward stock price manipulation, where company executives ordered traders to inflate the stock price.

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Published 18 July 2010, 16:46 IST

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