NU Online News Service, April 28, 12:34 p.m. EDT
American International Group said today that despite the ongoing investigations by federal authorities, they know of no illegal activity by the company's controversial financial products unit.
"To date, neither AIG nor AIGFP is aware of any fraud or malfeasance in connection with the underwriting and creation of the multisector CDS [credit default swaps] portfolio, as opposed to what, with hindsight, turned out to be bad business decisions," said an e-mail from company spokesman Mark Herr.
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