Ex-AIG executive unlikely to be charged

August 16, 2005|By NEW YORK TIMES NEWS SERVICE

A former top executive of American International Group in Bermuda, who is described in a lawsuit filed by the New York attorney general's office as having destroyed evidence amid an investigation into AIG, is not expected to face criminal charges by that office, two people briefed on the investigation said.

The executive, L. Michael Murphy, was fired by AIG in March for refusing to cooperate with the investigations. In May, the attorney general, Eliot Spitzer, sued AIG and its former top two officers, accusing them of manipulating financial statements and misleading regulators and investors.

Murphy was not named as a defendant in the lawsuit, but it contends that he "issued a directive that electronic files of any draft transcripts of the recordings be deleted."

Regulators have expressed interest in Murphy because of his role in AIG and its network of private companies and offshore reinsurance companies.

A spokesman for the attorney general's office declined to comment.

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