SEC Subpoenas Senior Executives in Probe at AIG Board

The SEC has sent subpoenas to a dozen executives at American International Group Inc. amid several probes into whether questionable transactions were used to improperly bolster the insurance titan's financial standing, a person familiar with the matter said Monday. Under investigation are a number of reinsurance transactions -- insurance purchased by insurance companies -- that regulators contend were designed to improve AIG's financial statements without the transfer of risk.

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