Hank Greenberg Swats Away SEC Suit With $15 Million Settlement

hankgreenbergap112008

Former AIG chairman Hank Greenberg is settling with the SEC after a long legal battle.

Greenberg — and former CFO Howard Smith — were charged by U.S. regulators today “for their involvement in numerous improper accounting transactions that inflated AIG’s reported financial results between 2000 and 2005.”

Greenberg has settled the SEC suit for $15 million; Smith for $1.5 million.  As is the case in all SEC lawsuits, he “neither admitted nor denied” the charges.

Bloomberg notes that Greenberg had previously vowed to fight the charges. Maybe the 84-year-old is getting sick and tired of all this courtroom drama.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.