Greenberg Accused Of Cheating Charity
In 1970, Maurice Greenberg, the former head of American International Group, along with other executives cheated a charitable foundation created by the founder of AIG out of millions of dollars to enrich themselves, New York Attorney General Eliot Spitzer charged last week.
Mr. Spitzer's accusations were made in a report on "Breaches of Fiduciary Duty by The Executors of The Estate of Cornelius Vander Starr." The report is part of Mr. Spitzer's civil lawsuit against Mr. Greenberg, who was forced out as AIG chief executive officer and chairman in March as a result of probes into alleged balance sheet manipulation via finite reinsurance deals.
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