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Greenberg could pay fine of up to $100 million: report

NEW YORK
Fri Sep 5, 2008 9:22pm EDT

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Maurice Greenberg speaks at a luncheon on American competitiveness in the global market at the New York Law School in New York April 24, 2006. REUTERS/Keith Bedford

NEW YORK (Reuters) - Maurice "Hank" Greenberg, the former CEO of American International Group Inc (AIG.N), could face a fine of up to $100 million to settle three-year-old civil fraud charges brought by New York's attorney general, according to business news channel CNBC on Friday.

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CNBC editor Charlie Gasparino said as part of settlement talks between the two sides, a fine of between $50 million and $100 million has been discussed. However, he said the talks could break down over the language of the settlement.

Gasparino said Greenberg was resisting any language that indicated wrongdoing on his part.

A lawyer for Greenberg did not respond to a request for comment. A spokesperson for the New York attorney general could not immediately be reached.

The parties agreed in July to postpone Greenberg's deposition in the matter until this month.

Greenberg left AIG in 2005 after allegations of financial misconduct were made against him and the company by then-New York Attorney General Eliot Spitzer and the U.S. Securities and Exchange Commission.

AIG paid $1.64 billion two years ago to settle the charges.

(Reporting by Lilla Zuill; Editing by Braden Reddall)
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