Greenberg Admits Aiding in Bogus AIG Deals, New York Says

Former American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg admitted to participating in and approving two fraudulent reinsurance deals as part of a settlement with New York’s attorney general, ending a contentious legal battle that has dragged out for almost a dozen years. The settlement, announced Friday, resolves a court fight in which Greenberg, 91, and his high-powered lawyer, David Boies, squared off against three successive state attorneys general.