AIG lawyer: Ex-top exec plundered retirement plan

AIG lawyer: Ex-top exec plundered retirement plan

www.breitbart.com

The former top executive of American International Group Inc. plundered an AIG retirement program of billions of dollars because he was angry at being forced out of the company, a lawyer for AIG told jurors Monday at the start of a civil trial.
Attorney Theodore Wells told the jury in Manhattan that former AIG Chief Executive Officer Maurice "Hank" Greenberg improperly took $4.3 billion in stock from the company in 2005, after he was ousted by the company amid investigations of accounting...

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[edit on 15-6-2009 by MysterE]

Wow! What a stand up guy! Ousted for "accounting irregularities" so he sells out the retirement accounts of his ex-coworkers.

[atsimg]http://files.abovetopsecret.com/images/member/6766d36964e9.jpg[/atsimg]

Greenberg, within weeks of being forced out in mid-2005, gave the go-ahead for tens of millions of shares to be sold from a trust fund. The fund was set up to provide incentive bonuses to a select group of AIG management and highly compensated employees that they would receive upon their retirement.

www.breitbart.com
(visit the link for the full news article)


[edit on 15-6-2009 by MysterE]