WCAX.COM Local Vermont News, Weather and Sports-Report: Greenberg to Pay Fine
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New York - August 6, 2009
Hank Greenberg, the former CEO of AIG and a Stowe resident, has reportedly agreed to pay the government a hefty fine.
The Wall Street Journal says Greenberg will pay $15 million to settle fraud allegations brought by the Securities and Exchange Commission.
Greenberg was ousted in 2005 and then the next year AIG paid more than $1 billion to settle allegations of improper accounting.
The insurance giant received a massive federal bailout last fall.
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