Greenberg questioned about transaction memo in AIG fraud trial

Questions in the AIG fraud trial on Sept. 28 for Hank Greenberg, former CEO of AIG, focused on what he knew about an alleged sham transaction and when he knew it.

By Jason Grant | Updated on September 29, 2016

The questioning of Maurice “Hank” Greenberg grew more intense at his civil fraud trial on Wednesday, prompting the former CEO to rip off his glasses, lean forward and raise his voice while answering a state prosecutor’s questions about an internal memo he received in 2000 that laid out how an alleged sham transaction could be structured.

The memo, sent by Joseph Umansky, a then-senior vice president at American International Group Inc. (AIG), was the focus of the New York Attorney General Office’s nearly three hours of direct examination.

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