AIG Had Cuba Ties While Owned by U.S., Agrees to Fine
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American International Group Inc. sold coverage to clients with ties to Cuba, a nation sanctioned by the U.S., when the insurer was owned by American taxpayers after its 2008 bailout.
The insurer agreed to a $279,038 settlement after telling regulators that it violated sanctions, according to a statement today from the U.S. Treasury Department’s Office of Foreign Assets Control.