Connect with us

Hi, what are you looking for?

Jewish Business News

Court

Maurice Greenberg and Elliot Spitzer Continue to Wrangle Over AIG

Silda Wall Spitzer hosts The Art of Giving Benefit Gala

 

The war between ex-AIG chief Maurice Greenberg and former NY Attorney General, Elliot Spitzer, wages on. Although many of Greenberg’s claims in the 89 year old’s defamation suit have been thrown out, Greenberg still insists on bringing Spitzer to justice for saying that the AIG chief made fraudulent claims about the company’s financial health to save face.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

The state claims that Greenberg and CFO Howard Smith made illegal transactions with the General Reinsurance Corp. in 2000 and 2001 that inflated AIG’s value by $500 million. The trial is scheduled for January 15, 2015.

Maurice Greenberg stepped down from his position at AIG in 2005 around the time that allegations arose that the said transactions were improper. While AIG shelled out the $1.6 billion to settle claims with regulators, Spitzer sued Greenberg and Smith in 2005. While he and Smith settled claims, he said the suit was fraudulent, and held Spitzer responsible.

Greenberg claims that Spitzer sought to elevate his own reputation while denigrating his own, and he has denied any wrongdoing. While many of Greenberg’s statements have been dismissed by the court, the former AIG chief will not be deterred.

 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.