ALBANY – The state may legally pursue the disgorgement of bonuses it claims were fraudulently received by former American International Group CEO Maurice “Hank” Greenberg just before financial difficulties at the insurance and financial services giant came to light in the 2000s.
A 6-0 Court of Appeals ruled Thursday that both the state’s anti-fraud Martin Act and state Executive Law allow the Attorney General’s Office to seek disgorgement from both Greenberg and AIG’s former chief financial officer, Howard Smith.
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