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AIG turns over memos

American International Group Inc. (AIG) has turned over internal interviews that former chairman and chief executive Maurice "Hank" Greenberg's lawyers sought for his defense in a civil case charging him with fraud, according to a Reuters report.

"AIG tried to hide this evidence, which we believe will further exculpate Greenberg of the few charges left in this case," said Nicholas Gravante Jr, Greenberg's attorney in the report.

New York attorney general Eliot Spitzer's charges against Greenberg and codefendant Howard Smith, the former AIG chief financial officer, rely in part on interviews that AIG's attorneys held with its own employees.

New York Supreme Court Justice Charles Ramos had previously ordered the complete interviews released to Greenberg as his attorneys prepare motions to dismiss the remaining civil charges filed by Spitzer in May 2005.

Spitzer charges that the former CEO of the world's largest insurer used sham transactions to inflate the company's financial statements. In September Spitzer dropped some of the charges, but the fraud complaint remains.

This News item appeared in issue 110 of JTW News - November 2006
 
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