AIG SunAmerica Brokers
Let Meyer Wilson Help Reclaim Your Money
AIG was founded in 1919 in Shanghai and brought to America in 1926 as American
General Insurance Company. Since then, the company has acquired VALIC
(1977), Western National Life (1998), and American General (2001). AIG
also acquired SunAmerica in 1999. SunAmerica Inc. is a financial services
company specializing in retirement savings and investment services.
In 2008, the Federal Reserve provided an $85 billion, two-year loan to
AIG to prevent bankruptcy and further stress on the global economy. In
return, the U.S. government now owns 79.9 percent stake in the company
while existing stockholders have lost nearly their entire value. Still,
AIG is the world's leading international insurance and financial services
organization with operations in more than 130 countries and jurisdictions.
AIG also has one of the largest U.S. retirement services businesses through
AIG SunAmerica. AIG SunAmerica, as the retirement savings division of
AIG, provides products and services to more than 4 million families nationwide.
The firm's common stock is traded on the NYSE and several major stock
exchanges around the world.
Both AIG and SunAmerica as separate companies had a history of deceptive
and fraudulent practices, resulting in record-breaking settlement cases
in order to avoid prosecution.
AIG paid over $1.5 billion when it was under investigation for helping companies commit fraud by
fabricating earnings and receiving bribes to steer investors towards certain
insurance packages. SunAmerica paid $7 million when it was indicted for
creating a Ponzi-scheme that took advantage of several elderly churchgoers,
who ended up losing millions due to their fraud. In both cases, while
neither company was ever convicted for its crimes, they both paid significant,
six- or seven-figure amounts of money to avoid further legal scrutiny.
Request a Free Case Evaluation with Meyer Wilson Today
Our investment fraud attorneys are prepared with experience, knowledge,
and aggression to fight for your rights as an investor against AIG SunAmerica.
If you’ve suffered severe losses from AIG SunAmerica brokers, you
may have a way to legally demand repayment from the firm responsible.
Our resources allowed us to reclaim $350 million for our clients. Let us step into the ring on your behalf – we can help take back
what’s yours. Our practice serves clients nationwide and internationally
in state and federal courts, as well as in arbitration through FINRA and
the American Arbitration Association.
AIG SunAmerica is obligated to repay losses caused by brokers who behave
outside the laws of the financial industry. To see if you have a case,
contact us for a
free case evaluation.