AIG’s D&O insurers pay out

AIG’s D&O insurers have paid $90m to settle claims former chief executive Maurice “Hank” Greenberg deceived investors, Bloomberg reports.

The claims were that Greenberg and other officials used accounting tricks and fraudulent schemes to disguise problems, according to the filing yesterday in Delaware Chancery Court in Wilmington.

The money is being paid to AIG and not individual investors as part of the agreement.

Greenberg paid too

Greenberg’s lawyer Lee Wolosky, of Boies, Shiller & Flexner, said the case “was settled with Mr Greenberg paying nothing and other parties paying money to Mr Greenberg.”