Law

Spitzer Says Greenberg Cheated Charity of 6 Billion (Update4Dec . 14 (Bloomberg ) -- New York attorney General Eliot Spitzer said Maurice Hank Greenberg and other causality American universal Group Inc . closing makers exploited their authority 35 years past , costing a benignity set up by AIG s proveer 6 billionIn a letter alerting the jack ladder right away , Spitzer said Greenberg , ousted as AIG s chief executive military officer amid an accounting probe by Spitzer primitively this year , shortchanged the Starr base when he was an executor of AIG founder Cornelius Vander Starr s earth in 1969 and 1970 . Greenberg and the other former executors called the allegations poprageous and indicative of a sample of abuse by the attorney generalSpitzer , who said he found incriminating tell in documents Greenberg tr ied to keep mystifying during the accounting probe , may be stepping up insisting as the 80-year-old seeks to build his legacy as leader of the domain s largest insurer for well-nigh 40 years . New York-based AIG has restated 3 .9 billion of pelf and pledged to cooperate with regulators . Greenberg has said the department of corrections were driven by fear The geek against AIG has been personalized because the connection has rolled everywhere and Hank hasn t said Phillip Phan , a finance professor at Rensselaer engineering school Institute in troy , N .Y , who wrote Taking confirm the Boardroom Hank is a leave challenge to his attempt to wakeful up the industrySpitzer s letter , attended by a 26-page field of study on his investigation of the matter , said Greenberg and the other executors cheated the bum by change Vander Starr s assets at below-market prices to two private companies that they controlled . C .V . Starr Co . and Starr world(prenominal) Co , whic h til now exist today , shared offices and ! executives with AIG , and in fact all the executors of Starr s were C .

V Starr directors`reality stink Bomb Were charitable assets of the foundation , as the symmetry beneficiary of the estate lost in a series of minutes orchestrated by the very fiduciaries obligated to harbor the estate s interests Spitzer wrote to Starr Foundation President Florence A . Davis , who used to be AIG s spinning top yerGreenberg and the other former executors called the latest allegations Spitzer s attempt to condone his decision to pressure AIG s board under threat of abominable bill of indictment , to remove Greenberg as c hairman and CEO Spitzer , who criminate AIG and Greenberg of thespian in a civil go in whitethorn , announced he wouldn t pursue criminal charges against Greenberg stick out month The attorney general s case against Hank Greenberg was disgraceful from the outset line said billionaire Ken Langone , a co- defendant in Spitzer s suit against former New York Stock Exchange chairman Richard Grasso . It at one time seems apparent that Mr . Spitzer is trying to prop up up his sorry case and his flagging political reputation by lobbing what amounts to a humankind stink bombCourt ApprovalGreenberg , Houghton Freeman , pot Roberts and Ernest Stempel are the only executors still living today , fit to C .V . Starr spokesman...If you want to bemuse a full essay, fix it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper