Obama's special envoy to Afghanistan and Pakistan served on the AIG Board from 2001 and 2008. Richard Holbrooke, a long term diplomat, was the UN Ambassador and was the Architect of the 1995 accord which ended the Bosnian conflict.
This looks like a case of a good person getting caught up in corruption by association, but responsibility is responsibility and it was Mr. Holbrooke's responsibility to do due dilligence on those he was associating with as well as acting under his authority.