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1 definition by mdsimon

 
1.
AIG
To do an "AIG" on someone is to defraud,bamboozle,bilk,or beguile, others of your real intentions after they have come to your assistance in your time of need.
After been given $170 billion in taxpayer funds in 2008 to help prop up the failing AIG "American International Group, Inc." it gave $165 million in bonuses to employees in 2009.

If you were to take something from someone for stated specific purpose, after they have come to your assistance and use it for any thing other than the stated purpose.
by mdsimon March 16, 2009
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