Click the play button on the video window to the right to see the storyWhile members of congress were busy doling out your tax dollars to help keep AIG afloat, the ABC15 Investigators caught some of the company’s top executives holding poolside meetings at an upscale Valley resort.
The story grabbed national headlines and it is our top investigation of 2008.
AIG went to great lengths to keep the conference at the Pointe Hilton Squaw Peak Resort from the public.
The company's logo was removed from all signs and hotel employees say they were told, "not to even say the word AIG."
But our hidden cameras were rolling as some of AIG's top brass held poolside meetings, worked out at the spa and dined out at an upscale Valley restaurant.
“I got to tell you at least superficially it does not ring right when you see these kinds of things being paid for in the bailout type situation that they are in,” said Arizona governor Janet Napolitano.
Congressman Elijah Cummings of Maryland took it one step further calling for congressional hearings and demanding AIG top executive, Edward Liddy, resign.
"I think Mr. Liddy might want to find another job and not have a golden parachute and no bonus for Christmas," said Cummings.
In his request for congressional hearings, Congressman Cummings refers to the Phoenix conference as a, "luxury junket."
AIG's CEO Edward Liddy told CNN's Larry King the conference in Phoenix, "Was not an executive retreat. This was 150 people. Wasn’t AIG executives."
But in his letter to Congress Cummings says, "I am also extremely concerned that in a telephone call with me as well as on a national television interview with CNN's Larry King, Mr. Liddy insisted that no AIG executives attended the Phoenix event."
Our cameras spotted AIG executives including company president Art Tambaro working out at the spa, AIG Advisor Group CEO Larry Roth and several corporate vice presidents.
AIG claims the conference was a training session for independent financial consultants.
In a statement posted on the company's website the CEO stated, "Recent news reports have grossly mischaracterized an American International Group seminar for 150 independent financial planners held in Phoenix."
A company spokesman says roughly 90-percent of the conference was paid for by participating product sponsors.
