The troubles at
Investigators are also looking at multiple ways these executives may have misled the company's auditors and investors about the value of derivatives the firm sold, people familiar with the case told WSJ. In particular, federal prosecutors are focusing on a December 2007 investor presentation in which Cassano said write-downs tied to the swaps had reached an estimated $1.6 billion, which is now under question.
Cassano left AIG last year and Forster and Athan are still at the company and are among those who received retention bonuses in March, the WSJ reports. These bonuses became the fodder of the greater press coverage in February, and stirred public controversy in the process. The CBS News report lists a $5 million Connecticut mansion, a $4 million London townhouse and a $7 million English estate as being owned by the three men now the subjects of a
AIG former Chief Executive Martin Sullivan, who left the firm amid its woes last year, isn't a target of the probe, people familiar with the matter said. A lawyer for Sullivan didn't respond to requests for comment.