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American International Group (2005): On May 26, 2005, Spitzer filed a civil complaint against Maurice R. "Hank" Greenberg (Chairman and CEO) and Howard I. Smith (ex-CFO of AIG), alleging fraudulent business practice, securities fraud, common law fraud, and other violations of insurance and securities laws.
The New York Attorney General brought civil fraud charges against Greenberg in May 2005, charging him with engaging in fraud to exaggerate AIG’s finances. On September 13, 2016, the fraud case against Greenberg came to trial in a state courthouse in Lower Manhattan. The New York State trial counsel said a guilty verdict was needed to "send a ...
Insurance giant AIG has been in and out of the courtroom for some time now as litigation over its involvement in the financial crisis continues. So it's unlikely for the company to be happy with a ...
Jan 8 (Reuters) - American International Group Inc (AIG), the insurer rescued by the U.S. government in 2008 with a bailout that ultimately totaled $182 billion, may now join a lawsuit against the ...
The lawsuit filed by AIG against Bank of America has been off-course for some time while the parties fight over whether the insurer retained the rights to sue B of A. On the line is a $10 billion ...
The lobby of AIG's headquarters in the American International Building.. The AIG bonus payments controversy began in March 2009, when it was publicly disclosed that the American International Group (AIG) insurance corporation was going to pay approximately $218 million (~$301 million in 2023) [1] in bonus payments to employees of its financial services division.
AP By Jonathan Stempel NEW YORK -- Bank of America (BAC) has won the dismissal of an unusual lawsuit in which shareholders accused it of concealing a $10 billion fraud case brought by American ...
Joseph J. "Joe" Cassano (born 12 March 1955) is an American insurance executive who was an officer at AIG Financial Products from the division's founding in 1987 until his resignation in February 2008. [1] Cassano is considered a key figure in the financial crisis of 2007–2008. [2]