Charges against AIG Global exec dropped

Jul 7, 2008 @ 12:01 am

By Aaron Siegel

Federal prosecutors have dropped charges against David B. Pinkerton, a former executive at AIG Global Investment Group Inc., in connection with a supposed scheme to bribe Azerbaijan officials over the privatization of the State Oil Company of the Azerbaijan Republic.

A clerk for Judge Shira A. Scheindlin of Federal District Court in New York confirmed that the judge had signed an order dismissing the charges against Mr. Pinkerton at the government's request, Dow Jones Newswires reported.

Mr. Pinkerton, a former managing director of AIG Global Investment, a division of American International Group Inc. of New York, was charged in October 2005 along with two other individuals InvestmentNews, Oct. 10.

Mr. Pinkerton faced charges of conspiracy to violate the Foreign Corrupt Practices Act and money-laundering conspiracy.

Prosecutors said at the time the men took part in a scheme from 1997 to 1999 with several co-conspirators to pay bribes to officials in Azerbaijan or their designees to force them to allow an investment consortium to participate in privatizing assets owned by that country.

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