New York attorney general Eliot Spitzer is turning up the heat on AIG chief executive Maurice 'Hank' Greenberg, driving to the heart of the matter to find out how much he knew about misleading practices at the company.
The investigation, said Spitzer , will turn on "what we will prove—or can prove—that (he) knew at the time".
"That company was a black box run with an iron fist by a CEO who did not tell the public the truth. That is the problem," Spitzer is reported as saying.
The attorney general failed to rule out any future indictments. He said that there was mounting evidence to suggest that the company had been fraudulent- it had not simply been a case of “accounting mistakes".
"The evidence is overwhelming that these were transactions created for the purpose of deceiving the market. We call that fraud," Spitzer said.
"It is deceptive. It is wrong. It is illegal."
