Greenberg Faces January Trial in 9-Year-Old Spitzer Suit

[hrmjustin]

Chris Dolmetsch

Maurice “Hank” Greenberg, the former chairman of American International Group Inc. (AIG), will go on trial in January after more than nine years of legal jousting over former New York Attorney General Eliot Spitzer’s lawsuit accusing him of fraud.

The state claims Greenberg, 89, and former AIG Chief Financial Officer Howard Smith bear responsibility for allegedly sham transactions with General Reinsurance Corp. in 2000 and 2001 that inflated AIG’s loss reserves by $500 million.

New York State Supreme Court Justice Charles Ramos in Manhattan today scheduled a trial to start the week of Jan. 19 after the two sides exchange lists of potential experts and witnesses.

New York Attorney General Eric Schneiderman is seeking to bar the men from participating in the securities industry or serving as directors or officers of a public company, after his office had dropped a claim for damages.

http://mobile.bloomberg.com/news/2014-07-29/greenberg-to-face-trial-of-spitzer-suit-after-nine-years.html

[Frustratedlady]

1. Nine years? Waiting for the old man to die before the trial starts?

Only the wealthy can stretch the inevitable. They can spend the rest of his life going thru more appeals/delays until he is either in dementia or dead.

[hrmjustin]

2. Different justice system for the rich.