New York — New York Attorney General Andrew Cuomo is investigating what he contends is "unwarranted and outrageous" spending by American International Group Inc. (AIG), even as the struggling insurer receives $123 billion of U.S. government funding to stay alive.

In a letter to AIG's board Wednesday, Cuomo demanded the company cease the kind of spending that sent executives on luxury retreats costing hundreds of thousands of dollars after a taxpayer bailout.

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