Last week, I asked here whether former AIG CEO Maurice “Hank” Greenberg had “blown up his settlement” with the SEC through comments made on his behalf following the settlement. To recap, the following statement was issued on behalf of Greenberg immediately following his SEC settlement:
Mr. Greenberg has consistently made clear that he personally never engaged in any fraud whatsoever and that the vast majority of AIG’s Restatement was unnecessary and concerned accounting issues for which he had no responsibility,” the statement said. “He also made clear to the SEC that he would never settle a charge of securities fraud, even if the settlement did not require him to admit the charge, and that he was confident that he could defeat in court any such claim if it were made.
