Financial Products boss may face a New York Jury
The former head of AIG’s Financial Products unit, Joseph Cassano, and other executives may be prosecuted for securities fraud, Reuters reports.
A grand jury may be sworn in this month in New York to consider charges that executives failed to disclose the value of toxic assets to the bailed-out insurance company's outside accountants and shareholders.
"The investigation is really who knew what and when about these assets," said Reuter’s source. "They were holding toxic credit default swaps and may not have disclosed their real worth."
