New York attorney general to probe AIG bonuses for fraud

ALBANY, N.Y. — New York state's attorney general is demanding that American International Group have details on his desk this afternoon about who is getting its multimillion-dollar bonuses.

Attorney General Andrew Cuomo says his office will investigate whether recipients of the payments were involved in the insurance giant's decline and whether the payments are fraudulent under state law.

President Barack Obama declared Monday that he plans to stop AIG from paying the executive bonuses.

Cuomo said he would issue subpoenas at 4 p.m. Monday if he didn't get the names of employees scheduled for bonuses plus information about their work and contracts.

Cuomo said he's been investigating AIG compensation arrangements since last fall.