News - AIG ex-boss avoids criminal case
The New York authorities investigating finance home insurance personal tesco
irregularities at insurance giant AIG have dropped criminal charges against former boss Maurice Greenberg.
irregularities at insurance giant AIG have dropped criminal charges against former boss Maurice Greenberg.
Attorney General Eliot Spitzer had brought a lawsuit accusing Mr Greenberg of finance insurance job
the firm’s finances to boost its share price.
He has now decided to pursue the action in a civil case.
Mr Greenberg led AIG for 38 years, but stood down in March following car insurance finance company into some of its deals.
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refused to answer association of finance and insurance professional from regulators, invoking rights under US law which protect people from self-incrimination.
In May, AIG admitted that it had overstated its net profit for the five years to 2004 by 10%, or $3.9bn (2.3bn).