Government lawyers, probing whether the ex-boss of American International Group and the former head of the New York Stock Exchange used threats against floor traders to manipulate AIG share prices in 2004, ran into a Fifth Amendment wall last year.
Richard A. Grasso, former NYSE chief executive, invoked his Fifth Amendment right against self-incrimination more than 160 times when asked about his own actions and those of AIG Chairman and CEO Maurice Greenberg, according to a record of the proceedings released last week.
The questions by Securities and Exchange Commission attorneys came as part of a probe into oversight of exchange specialists–who manage floor trading of stocks–that the agency accuses of profiting by trading ahead of customer orders.
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