Former AIG VP Avoids Life Sentence.
By: Ainsley Brown
Christian Milton, a former vice-president of American International Group Inc. (AIG) was sentenced last week to 4 years for his part in a US $597 Million fraud scheme.
The scheme which began in 2000 defrauded AIG shareholders by the aforesaid amount by allowing AIG to improve its balance sheet. Mr. Milton can count himself luck for only getting 4 years, as it was well with the judge’s purview to give him a life sentence. Coupled with the fact that at sentencing U.S. prosecutors were making a forceful case that Mr. Milton played a central role in the fraudulent transaction, he can count himself lucky indeed.
Poor AIG. The past year has not been kind.
This is definitely, given the current economic climate, is a case where no news would have been good news for the troubled insurer.
