A false claims case has been filed in the United States District Court for the Southern District of California in the name of the United States to recover money paid by the United States Government for derivative securities that were submitted in 2008 by American International Group (AIG), Deutsche Bank, Goldman Sachs, Societe Generale, and Merrill Lynch to the United States Federal Reserve Board, Federal Reserve Bank of New York, and the United States Department of Treasury. The case also seeks the return of funds AIG obtained from the U.S. Treasury, Federal Reserve Bank of New York, and the United States Federal Reserve Board in 2008. The operative complaint alleges that these funds were obtained by these defendants in violation of the United States False Claims Act.
The Relators in the case are Nancy and Derek Casady. A copy of the operative complaint can be obtained below.
Claiming Fraud in A.I.G. Bailout, Whistle-Blower Lawsuit Names 3 Companies
By MARY WILLIAMS WALSH
New York Times Business Day: Published: May 4, 2011
Will "False Claims" Lawsuit Against AIG, Goldman, Deutsche, BofA, SocGen on Fed Funding Lead to New Round of Embarrassing Revelations?
From: Naked Capitalism