AIG has fired two top executives for failing to cooperate with government investigators, the company said.

The company's chief financial officer Howard Smith and vice president Christian Milton have been dismissed from the company.

According to reports the men said they would invoke their Fifth Amendment rights against possible self-incrimination amid a probe into whether AIG manipulated its books to mislead investors.

AIG shares fell 63 cents, or 1%, to $57.27 in morning trading on the New York Stock Exchange.

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