Wednesday, May 21, 2008
The SEC sent Maurice Greenberg, former AIG CEO, a Wells notice, informing him that he may face civil charges for his alleged role in the transactions with General Re creating sham loss reserves. A Wells notice gives the subject of an investigation an opportunity to persuade the SEC not to bring charges. Greenber's lawyer stated they remained confident of their position on the merits. WSJ, Greenberg May Face SEC Civil Charges.