Article: US regulators consider charging Greenberg

Maurice "Hank" Greenberg, the former chief executive of American International Group, could face civil charges for his alleged role in overstating the insurance giant's financial strength.

Mr Greenberg was sent a "Wells notice" by the US Securities and Exchange Commission last week in connection with reinsurance transactions between AIG and Berkshire Hathaway's General Re in 2000. A Wells notice indicates that the SEC is considering civil charges and gives the recipient the chance to persuade the watchdog not to press charges.

District Judge Christopher Droney said last Friday that there was "sufficient evidence" to show that a financial conspiracy started with a phone call from Mr Greenberg.

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