Greenberg battles back against Schneiderman in N.Y. fraud case

Former AIG CEO says the N.Y. AG shouldn’t be able to use a 91-year-old law in case

The tensions rose another notch yesterday in the 7-year-old fraud case against former American International Group Inc. (AIG) Chief Executive Officer Maurice Greenberg and Chief Financial Officer Howard Smith. Greenberg bit back at New York Attorney General Eric Schneiderman, claiming that the state should be barred from invoking a 91-year-old state law in the case.

Greenberg and Smith requested permission to appeal the fraud case over a pair of dubious reinsurance transactions to the New York Court of Appeals—the state’s highest court—after a Manhattan appeals court last week decided that Schneiderman’s case could go to trial.

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