Ex-AIG Head to Pay SEC $15 Million

Despite denying any wrongdoings, former AIG CEO Hank Greenberg has agreed to pay $15 million to the SEC in order to settle past accounting issues. Greenberg was subpoenaed in July of 2007 on an investigation into what role he may have played in alleged accounting misfires that eventually cost him his job, MSNBC reports. AIG sued Greenberg as part of shareholder litigation over a $3.6 billion earnings restatement. Additionally, former AIG CFO Howard Smith has agreed to pay $1.5 million in the SEC settlement; an SEC announcement said the settlement is expected late Thursday.