Former AIG Chief Greenberg Receives Wells Notice

Wednesday, 21 May 2008 | 11:15 AM ET

Maurice "Hank" Greenberg, former chief executive of American International Group, may face civil charges from the U.S. Securities and Exchange Commission, his lawyer said on Wednesday.

Greenberg received a "Wells notice" from the U.S. Securities and Exchange Commission on Friday. A Wells notice signals that regulators are considering civil charges and gives the recipient a chance to mount a defense.

Greenberg's attorney, Robert Morvillo, said in an e-mailed statement: "We remain confident of our position on the merits, and we believe that none of the remaining issues are material to AIG's financial statements."

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