Deposed AIG boss Maurice Greenberg chose not to answer questions and invoked his Fifth Amendment rights, when he met with US government authorities on Tuesday regarding the recent AIG accounting probe.
Greenberg, who left his position as CEO of AIG, the largest insurance company in the world, in the wake of investigations being initiated by the SEC, reportedly refused to answer any questions put to him in the 45 minute session held in the office of New York Attorney General Eliot Spitzer.
No comment was issued by Greenberg or his legal team about the detail of the meeting, although the former AIG boss’ lawyer indicated the day before the deposition that he would not answer questions due to a lack of time to prepare.
Meanwhile, fresh controversy has erupted around Greenberg as it has become apparent that he gave his wife 41.4 million of his AIG share just three days before he left his position. According to a filing with the Securities and Exchange Commission, the shares, worth in the region of $2.2 billion, were transferred on March 11.
The exchanged shares represent the vast majority of Greenberg’s directly held stock in the insurance giant, leading to speculation that the move could possibly be an attempt to protect Greenberg’s assets. Investigators are likely to also be interested in this latest development.