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Spitzer, SEC Investigating AIG's Greenberg

American International Group (AIG) chief executive officer Maurice Greenberg is being investigated by New York Attorney General Eliot Spitzer and the U.S. Securities and Exchange...
March 1, 2005

American International Group (AIG) chief executive officer Maurice Greenberg is being investigated by New York Attorney General Eliot Spitzer and the U.S. Securities and Exchange Commission to see if he had a role promoting income smoothing products, according to a report in Fortune magazine. That report, to be published in Fortune's March 7 issue, cited a source familiar with the probe and said the investigation examines whether Greenberg personally promoted non-traditional insurance products -- or income smoothing products -- to heads of other companies. A spokesman with AIG, the world's largest insurer by market value, declined to comment on the story. Spokesmen for the SEC and New York Attorney General Eliot Spitzer's office also declined to comment on the Fortune report.

AIG Chief Being Probed by Spitzer, SEC-report (Reuters 2/23/05)

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