Search
 

Greenberg's Pride Takes A Hit with SEC Settlement

I never expected Maurice Greenberg to give an inch when it came time to battle charges involving accounting fraud while he was heading up AIG. Yet ...

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

I never expected Maurice Greenberg to give an inch when it came time to battle charges involving accounting fraud while he was heading up AIG. Yet not only did Hank settle with the Securities and Exchange Commission, he ended up having to do a little damage control after the SEC objected to his rhetorical shrug of the shoulders in characterizing the meaning of the deal to him personally.

In case you hadn’t heard, Mr. G paid $15 million to settle charges stemming from the misuse of finite reinsurance at AIG to artificially boost the company’s balance sheet–and, most likely, its stock price at the time.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.