Maurice “Hank” Greenberg, the former chief executive officer of American International Group Inc., is set to ask New York’s highest court today to clear his name and dismiss what remains of an eight-year-old lawsuit over an AIG accounting scandal, Bloomberg News reported. The argument comes after New York Attorney General Eric Schneiderman said that while he wants to hold Greenberg personally liable, he no longer seeks money damages. He wants to bar Greenberg from working in the securities industry or serving as an officer or director of a public company. Greenberg has long argued that the lawsuit, originally filed by then-Attorney General Eliot Spitzer, is groundless. Schneiderman contends that Greenberg and former AIG Chief Financial Officer Howard Smith bear responsibility for a sham transaction with General Reinsurance Corp. in 2000 and 2001 that inflated AIG’s loss reserves by $500 million.
