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Ex-AIG chief claims insurance giant cheated him
03/03/2009
The former chief executive officer of American International Group Inc. has sued the company he led for 38 years, saying AIG misled investors about its exposure to subprime mortgages. Maurice "Hank" Greenberg, 83, claimed in papers filed in federal court in Manhattan on Monday that the company, once the world's largest insurer, has ruined his fortune by lying about its financial health. The lawsuit says Greenberg, who served as AIG's chief executive from 1967 until he retired in March 2005, was the New York-based company's largest non-institutional shareholder. Christina Pretto, a company spokeswoman, said: "We believe the suit is without merit and we will defend ourselves vigorously."
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