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AIG said to give ex-CEO's stuff back
Report: Insurer returns items to Greenberg, including letters from his mom, but holds on to art.
May 13, 2005: 6:40 AM EDT

NEW YORK (CNN/Money) - At least Maurice "Hank" Greenberg is getting his underwear back.

The embattled former chairman and CEO of American International Group (Research) has finally gotten some personal items back from the company, according to a report Friday in the Wall Street Journal. The paper reported that AIG had held onto his items, including letters that his mother had written to him during his war service, since his ouster from the company in March.

Greenberg now faces a federal probe about accounting of several transactions with reinsurance companies, which apparently inflated the company's net worth.

Also returned were a 19th century George III desk, materials from his Bronze Star ceremony and correspondence from heads of state, as well as monogrammed towels, a Water Pik and health records of his maltese, Snowball, according to the report.

But the paper reported the company has yet to release some of the more valuable items, including antiques, a couch that had been in Greenberg's office, Chinese artifacts and a Van Gogh painting, "The Little Stream."

Also not returned were some documents the paper reports are owned by the private companies Greenberg heads that have close ties to AIG. Greenberg remains head of two closely held companies -- Starr International Co., an investment company long used by AIG to pay bonuses to its executives, and C.V. Starr, an insurance underwriter and brokerage concern.

AIG declined to comment about the return and retention of items. Howard Opinsky, a spokesman for Greenberg, told the paper, "With most of Mr. Greenberg's personal property recovered, we now hope AIG will move quickly to return his art collection, as well as property that belongs to the Starr companies."

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Maurice 'Hank' Greenberg
Corporate Scandals
American International Group Incorporated
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