American International Group Inc. probe

June 10, 2005

Ousted AIG chief Greenberg resigns from insurer's board

NEW YORK - American International Group Inc. might begin putting its financial and regulatory problems behind it now that Maurice "Hank" Greenberg, who built the company into one of the world's largest insurers, has stepped down from the board of directors.

June 10, 2005

Ex-Gen Re official admits AIG sham

ALEXANDRIA, Va. - A former executive at Berkshire Hathaway's General Re insurance unit pleaded guilty yesterday to helping American International Group concoct a sham transaction that made AIG's finances appear better than they were.

June 7, 2005

General Re officer to admit guilt, settle suit

NEW YORK - An executive for Berkshire Hathaway Inc.'s General Re insurance unit has agreed to plead guilty to a federal criminal charge of helping American International Group Inc. use reinsurance to distort its finances, his lawyer said yesterday.

May 3, 2005

New audit says AIG worth $1 billion less

NEW YORK - American International Group Inc., one of the world's largest insurance companies, said yesterday that it will again delay filing its 2004 annual report and make accounting adjustments that will cut its value by about $2.7 billion - $1 billion more than an earlier estimate.

April 29, 2005

Investors to get chance to quiz Buffett this weekend over probes

Warren E. Buffett's annual meeting is usually a chance for the billionaire to show how the mistakes of others enrich Berkshire Hathaway Inc.'s shareholders. This weekend's gathering might focus on whether Berkshire made missteps.

April 13, 2005

Greenberg reportedly takes Fifth at inquiry

NEW YORK - Maurice R. "Hank" Greenberg took the Fifth Amendment "dozens of times" when he was questioned yesterday about possibly illegal transactions between the giant insurance firm he headed for nearly 40 years and a unit of Warren E. Buffett's Berkshire Hathaway Inc., sources told Newsday.

April 12, 2005

Ousted AIG chief to take the 5th today

NEW YORK - Maurice R. "Hank" Greenberg, ousted last month as chief executive officer of American International Group Inc., will invoke his legal right to avoid self-incrimination when he testifies today before investigators probing the insurer's accounting.

April 2, 2005

AIG's Greenberg resigned amid threat of indictment

NEW YORK - Maurice R. "Hank" Greenberg abruptly resigned as longtime chairman of American International Group Inc. amid a threat that the New York attorney general would indict AIG if he was still at the embattled company's helm as it faced growing government investigations, The Wall Street Journal reported yesterday.

March 31, 2005

AIG finds errors in its accounts

NEW YORK - American International Group Inc., the world's largest insurer, said yesterday that it engaged in improper accounting that might have inflated the company's net worth by as much as 2 percent, or $1.7 billion, since 1991.

March 30, 2005

Greenberg quitting AIG post today or tomorrow

American International Group Inc. is moving closer to resolving an accounting investigation as Maurice R. "Hank" Greenberg relinquishes ties to the company that he spent more than 40 years building into the world's largest insurer.

March 30, 2005

Buffett denies knowledge of suspect deals with AIG

NEW YORK - Uncharacteristically on the defensive, billionaire Warren E. Buffett denied yesterday having been briefed on suspect transactions between a unit of his Berkshire Hathaway Inc. and insurance giant American International Group Inc.

March 29, 2005

SEC reportedly subpoenas 12 executives at AIG

WASHINGTON - The Securities and Exchange Commission has sent subpoenas to a dozen executives at American International Group Inc. amid several investigations into whether questionable transactions were used to improperly bolster the insurance titan's financial standing, a person familiar with the matter said yesterday.

March 23, 2005

AIG fires chief financial officer, VP for not aiding investigation

NEW YORK - American International Group Inc., the world's largest insurer, has fired Chief Financial Officer Howard I. Smith and another executive for failing to cooperate with government investigations, a company spokesman said yesterday.

October 22, 2004

Insurer AIG is target of federal grand jury

NEW YORK -- One of the nation's largest insurance companies, American International Group Inc., said yesterday it has been notified that it is a target of a federal grand jury investigation related to a civil case alleging that it helped another company falsify its earnings.