Ex-AIG boss wants apology from Schneiderman for fraud suit
Maurice “Hank” Greenberg on Monday demanded an apology from New York Attorney General Eric Schneiderman — but he shouldn’t hold his breath.
Greenberg, the insurance industry legend who led AIG for 40 years, settled a nearly 12-year court case brought by the state on Friday and is more than a little miffed that the AG issued a statement that made it seem as if he copped to a fraud charge.
Greenberg and his legal eagles made it clear that he didn’t. The group is also angry that news of the surprise settlement was released without their knowledge.
They want Schneiderman to apologize for his actions. But the state’s top law man wasn’t on the same page.
When asked if Schneiderman would apologize to Greenberg, Eric Soufer, a spokesman, said: “No.”
Greenberg and his team claim they and Schneiderman agreed to specific settlement language but that a press release on Friday evening was issued with “somewhat different language.”
“We had agreed on the language of the discontinuation of the litigation, which he signed,” Greenberg said. “And the next day, he came out with a statement that repudiated that.”
The 91-year-old executive said he would like to sue the AG, but can’t.
“The problem is that the [AG] has immunity,” he said.
On Friday, Schneiderman announced a $9.9 million settlement with Greenberg and former AIG Chief Financial Officer Henry Smith, ending 12 years of litigation over two sham transactions.
Greenberg admitted he had “initiated, participated in and approved these two transactions.” His lawyer, David Boies, said he did not admit to any fraud.