SEC May Target Greenberg in Civil Action

The U.S. Securities and Exchange Commission has warned Maurice "Hank" Greenberg, the former chief executive officer of  American International Group, that he may be the target of civil charges in connection with a fake reinsurance deal with General Re Corp. that inflated AIG's loss reserves by $500 million.According to news reports, the SEC issued a "Wells notice" informing Greenberg of a potential lawsuit last Friday – a day after U.S. District Judge Christopher Droney ruled there was sufficient evidence to indicate that a phone call Greenberg made in 2000 triggered the reinsur...