The wife of former AIG chairman and chief executive Maurice Greenberg has transferred more than £1.1bn AIG stocks to a joint account with her husband, Greenberg's lawyers said.

The move came only three months after Greenberg gave the shares to his wife as a gift, prompting Ohio regulators to file a complaint that it was a "fraudulent conveyance" to shield assets.

Greenberg's lawyer said the shares had been returned because the gift was misunderstood.

A spokeswoman for the Ohio attorney general said the state had not decided whether to drop the lawsuit.

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