The AIG scandal continued this week as it emerged that the firm dressed up accounts to the sum of $1.77bn.

Dealings with Berkshire Hathaway's General Re resulted in AIG reporting a $500m loan as pure premium revenue. It was able to bolster its reserves and failed to assume the risk associated with underwriting.

AIG acknowledged "the transaction documentation was improper" and that the loan should not have been classified as premiums.

The company also confessed to a series of misdemeanours allowing it to manipulate the books.

Questions also hang over Starr International, which offered lucrative share-based incentives to AIG employees. Board members included several senior AIG executives, namely the ousted Maurice Greenberg and current chief executive Martin Sullivan.

On Tuesday it emerged that AIG had attempted to cease co-operation with US regulators by removing important documentation from its Bermuda office.

However, charges are yet to be brought against AIG. On Monday New York attorney general Eliot Spitzer said "a civil resolution will ultimately be achievable."