A Collaboration with the University of Pittsburgh

Spitzer not pursuing charges against former AIG chairman

[JURIST] The office of New York Attorney General Eliot Spitzer [official website; JURIST news archive] announced Friday that it does not expect to pursue state criminal charges against Maurice "Hank" Greenberg [Wikipedia profile], former AIG [corporate website] chairman and CEO. Spitzer originally filed suit [JURIST report] against AIG, Greenberg and its former CFO in May, alleging that the defendants engaged in fraudulent transactions to prop up the price of AIG stock, mischaracterized income and repeatedly lied to state insurance inspectors. Spitzer spokesman Darren Dopp said the office plans to pursue the case against Greenberg as a civil matter, and the civil complaint may be amended to include additional charges. Greenberg may also face criminal charges from federal prosecutors in two separate investigations. AP has more.

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.