Wednesday, December 4, 2013


AMERICAN supranational GROUP (AIGNameClassRoll No : AMERICAN foreign GROUP (AIGThe Securities and Exchange Commission ( sec ) do compliant stating that the AIG materially falsified its financial statements through sham of effects so that investors may receive attraction with the financial results . Such falsification was do for the period of 2000 to 2005 . An amount of 500 one million million has been added as reserves in the balance sheet which is falsified figureAIG entered with such organization Gen Re which has no economic substance . During the period of fraud , AIG distributed its bunk for corporate acquisition . Such accounting irregularities by AIG caused violations of the federal official securities laws . When the federal and state regulators contacted the AIG about the Gen Re transaction , AIG initiated midla nd investigation and made restatement . AIG clearly admitted for 66 minutes and made restatement . is a professional essay writing service at which you can buy essays on any topics and disciplines! All custom essays are written by professional writers!
The AIG agreed that the purpose is to improve financial statements which atomic number 18 essential and hence made improper transactions . As such with the restatement , the AIG reduced its shareholders equity by 2 .26 billionDuring 2003 , the SEC supercharged AIG with respect to securities fraud which is sham and selling policy to satiny point , Inc . The aim of Bright point is to key to embrace to the pubic about false and misleading financial training . Consequently the AIG has been penalized by SEC for 10 mi llion to vacate civil actionsDuring 2004 , ! the SEC again charges the AIG for the securities fraud in conjunction with PNC Financial Services Group , Inc for charge of...If you destiny to modernise a full essay, order it on our website:

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