Greenberg settles NY securities fraud charges for $9mn

Former AIG boss Maurice "Hank" Greenberg has admitted
to initiating, participating in and approving two sham reinsurance
deals at the heart of charges he has denied for over a decade, New
York Attorney General Eric Schneiderman said today.
Greenberg has agreed to forfeit $9mn, Schneiderman said in
announcing the end of a 12-year battle with the industry veteran
over the civil charges.
Once uncovered, the transactions were tied to the giant
insurer's restatement of its accounts to correct for aro