In 1970 Maurice Greenberg, the former head of American International Group, and other executives cheated a charitable foundation created by the founder of AIG out of millions of dollars to enrich themselves, New York Attorney General Eliot Spitzer charged yesterday.
Mr. Spitzer's accusations were made in a report on "Breaches of Fiduciary Duty by The Executors of The Estate of Cornelius Vander Starr." The report is part of Mr. Spitzer's lawsuit against Mr. Greenberg, who was forced out as AIG chief executive officer and chairman in March.
As a result of his findings, Mr. Spitzer wrote Florence Davis, the president of the Starr Foundation in New York, urging her to consider reconstituting the organization, which has Mr. Greenberg as chairman, as well as seeking recovery of assets.
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