Ruling against ex-AIG boss Greenberg raises stakes in Trump University case

Former CEO of American International Group Inc, Greenberg, checks his phone inside a car after leaving a building in Downtown New York where he was deposed by the Attorney General's officeBy Karen Freifeld NEW YORK (Reuters) – A ruling by New York’s highest court in a fraud case against former American International Group Inc Chief Executive Maurice “Hank” Greenberg could affect the state’s case against Republican presidential candidate Donald Trump and his defunct Trump University. The New York Court of Appeals ruled on Thursday that state Attorney General Eric Schneiderman could seek to recoup millions of dollars in bonus payments to Greenberg using the legal remedy called disgorgement. Unlike damages, which are used to compensate victims’ losses, disgorgement requires a defendant to give back gains obtained from unlawful means.

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