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SPITZER TO AUDIT AIG

New York Attorney General Eliot Spitzer on Tuesday said he will audit American International Group over reports that AIG improperly booked workers' compensation premiums, providing an "unlawful benefit" to the company worth tens of millions of dollars.

Spitzer and the state Insurance Department are appointing a consultant to audit the company for conduct that Spitzer said appears to have happened over a decade and is now discontinued.

Spitzer said a 1992 AIG memorandum to top management reported the practice was illegal, a notice that followed similar warnings in previous years.

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