UPDATE: ALLEGED FOUNDATION FRAUD

Maurice R. Greenberg, former head of the American International Group insurance conglomerate, called the charges of foundation fraud made against him by New York Attorney General Eliot L. Spitzer “outrageous,” according to an interview with The Washington Post. Mr. Spitzer has accused Mr. Greenberg of improperly draining the Starr Foundation’s coffers during his tenure as director of the foundation. But Mr. Greenberg countered that he did nothing wrong and that Mr. Spitzer is seeking publicity. Mr. Greenberg—currently chairman of the Starr Foundation, one of the country’s largest grant makers—said Mr. Spitzer misrepresented the deals he made as foundation head more than 35 years ago, and that the attorney general is simply creating a fervor to attract attention to his gubernatorial bid.