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October 14, 2016

Prosecutors Struggling to Make Case Against Former AIG CEO

“What a destructive precedent it would set if courts decide that running a disciplined organization counts as evidence of complicity in allegedly illegal acts,” writes the Wall Street Journal editorial board of the New York attorney general’s “struggling” case against former CEO of AIG, Hank Greenberg.

More than a decade after he was sued for accounting fraud, Greenberg is now on trial for civil charges first brought by former New York AG Eliot Spritzer and now prosecuted by AG Eric Schneiderman.

The editorial highlights that the AG’s case has been “overruled on efforts to introduce hearsay evidence” and expert testimony. “Without direct evidence that Mr. Greenberg committed fraud or told anyone to do so, the prosecution is attempting to make a circumstantial case that he was a control freak who therefore must have been responsible if anything improper occurred.”

 

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