Former AIG CEO Hank Greenberg pays $15 million to settle SEC charges

Tim Catts

Former American International Group (AIG) CEO Hank Greenberg will pay $15 million to settle fraud charges filed by the Securities and Exchange Commission, The Wall Street Journal is reporting.

The charges stem from an accounting scandal that led to Greenberg's resignation in 2005. The next year, AIG paid $1.6 billion to settle charges that it manipulated its financial statements.