The hits keep coming: On top of spa treatments and fancy dinners, this company’s ponying up for even more expensive management conferences instead of living lean.

Soon after coming under fire for spending $440,000 on an executive retreat, the folks at AIG have learned they shouldn’t be spending so lavishly — at least, not in the public eye.

Hidden cameras at the Pointe Hilton Squaw Peak Resort in Phoenix recently caught AIG execs poolside and at the spa. One difference this time: The company made significant efforts to disguise the conference by hiding logos, signs and even operating under a pseudonym.

So far, the cost of the conference is estimated at $343,000 — which is at least lower than the company’s last outing — but AIG claims most of those expenses will be recouped from product sponsors at the event.

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Tags: AIG, Bailout, Conference, Spa treatment