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Greenberg Signals He May Want to Settle With Spitzer

Maurice "Hank" Greenberg, the ousted chief executive of American International Group (AIG), may be willing to negotiate with New York Attorney General Eliot Spitzer to...
July 6, 2005

Maurice "Hank" Greenberg, the ousted chief executive of American International Group (AIG), may be willing to negotiate with New York Attorney General Eliot Spitzer to settle a fraud lawsuit, one of Greenberg's attorneys said. The comments signal a retreat for Greenberg from his insistence in May, when Spitzer filed the suit, that he would contest the allegations. The civil suit accuses Greenberg, who ran AIG for almost 40 years, of misleading regulators and investors by using sham reinsurance contracts and other improper accounting to understate liabilities and inflate underwriting income.

Greenberg May Move to Settle (Bloomberg News 7/5/05)

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