Ex-Chief of AIG Settles SEC Case for $15 Million
Friday, August 7, 2009 : PermalinkThe Ledger – Federal regulators announced an agreement with Maurice R. Greenberg on Thursday to settle accusations that he oversaw an accounting fraud at the American International Group.
But Mr. Greenberg did not go quietly.
Shortly after the announcement from the Securities and Exchange Commission, Mr. Greenberg issued a defiant statement saying he had ”no responsibility” for the fraud at A.I.G., which he ran for about four decades ending in 2005.
Under the settlement, Mr. Greenberg agreed to pay just $15 million in penalties and disgorgement for overseeing fraudulent transactions at A.I.G.
Tags: accounting fraud, accusations, american-international-group, disgorgement, four decades, fraudulent transactions, maurice r greenberg, mr greenberg, regulators, securities-and-exchange, securities-and-exchange-commission
trackback from your site.