Six more of the top 20 AIG bonus recepients gave back the money late yesterday, bringing the total to 15. New York Attorney General Andrew Cuomo made the announcement. The total refunded to the company aount to more than $30 million in cash.
Cuomo sensibly isn’t revealing the identities of those who gave back the bonuses but is still implicitly threatening to reveal those top bonuses winners in the Financial Products group who keep their bonuses. We’re told that at least a few of the remaining 5 top 20 bonuses recipients are foreigners, perhaps including the head of AIG’s French bank, Banque AIG. It would be hard for US regulators or tax officials to attempt to recoup bonuses paid abroad to foreign nationals.
Around 20 employees have quit AIG FP since the bonus debacle exploded, according to a person familiar with the matter who spoke to the Wall Street Journal. The dribble of departures has not become a flood, however. A spokeswoman tells the Journal’s Liz Rappaport that “this situation is manageable.”