Former American International Group CEO Maurice Greenberg invoked his right against self-incrimination and refused to answer questions from government officials last week about his companys accounting activity, his legal team confirmed.
Greenbergs appearance for a deposition at New York Attorney General Eliot Spitzers office, where he invoked the Fifth Amendment, was reported to take less than an hour.
Meanwhile, a Form 4 filing with the U.S. Securities and Exchange Commissionwhich is also investigating Greenbergrevealed that he had transferred $2.6 billion worth of AIG stock to his wife, Corinne, three days before his March 14 resignation as the insurance giants CEO.
Greenbergs lead attorney, David Boies, had announced the day before his client was scheduled to testify that he would not be answering questions, explaining that the attorney generals office had not given him enough time to prepare.
According to statements by Spitzer, investigators in part are looking into offshore entities created by AIG that they suspect were fraudulent. The probe is also looking at an AIG deal involving a finite reinsurance arrangement with General Re, a subsidiary of Berkshire Hathawayheaded by Warren Buffet, who testified on April 11, the day before Greenberg.