http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=mktw&guid=%7BF600814E%2D0B90%2D42F7%2DBBCD%2D808C3483B0BE%7D&symbol=NEW YORK (MarketWatch) -- Former New York Stock Exchange Chairman Dick Grasso invoked his Fifth Amendment right not to answer questions more than 150 times last summer when he was questioned about trading abuses on the exchange floor, according to a transcript of his testimony.
Grasso was questioned by the Securities and Exchange Commission in 2005 over specialist trading abuses. Specifically, the former chairman was asked if he prodded traders to support share prices in companies including American International Group Inc. (AIG : 59.46, +0.19, +0.3% ) .
Throughout the questioning, Grasso repeatedly invoked the Fifth Amendment in response to direct questions about his role in floor trading.
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"I assert my Fifth Amendment privilege," Grasso said.
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New York State Attorney General Eliot Spitzer also questioned Grasso this year over his role in trading while the attorney general was investigating whether Grasso's $190 million payout was legitimate. That case is expected to go to trial later this year or in 2007.
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