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Cuomo Reopens Probe of AIG’s Cassano After U.S. Ends Its Case

New York Attorney General Andrew Cuomo reopened his probe of former American International Group Inc. executive Joseph Cassano after federal authorities closed theirs, according to a person familiar with the matter.

Cuomo’s office held meetings with Cassano’s lawyers and AIG earlier this month, and are expected to meet again, the person said. Cassano, head of AIG’s Financial Products unit until March 2008, made derivative bets on subprime loans that forced AIG into a U.S. bailout.