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Greenberg pays $15M to settle SEC charges; Deal resolves probeof ex-AIG chief's rolein accounting practices.

Publication: Business Insurance
Publication Date: 10-AUG-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: Greenberg pays $15M to settle SEC charges; Deal resolves probeof ex-AIG chief's rolein accounting practices.(NEWS)(Maurice R. Greenberg v. Securities and Exchange Commission)(American International Group Inc.)

Article Excerpt
Byline: COLLEEN McCARTHY

Maurice R. Greenberg, American International Group Inc.'s former chief executive officer, has agreed to pay $15 million to settle civil charges related to alleged improper accounting transactions that inflated AIG's financial results, said the Securities and Exchange Commission.

In addition, ex-AIG Chief Financial Officer Howard I. Smith agreed to pay $1.5 million to settle similar charges.

The SEC last week announced the settlements to conclude a four-year...

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