Conseco and a handful of other insurance giants that offer variable annuities have received subpoenas from New York Attorney General Eliot Spitzer, the New York Post reports Friday. Lincoln National and Hartford Financial Services Group are two other companies Spitzer’s office is investigating for whether they knowingly permitted market timers to move in and out of their VAs.

Sources told sister publication Annuity Market News only two months after Spitzer began his probe that 80 investment and insurance companies are under scrutiny ( see "VAs Under Pressure Over Market Timing," December 2003 AMN).

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