Tagged: Private fund fraud

Allianz Global Hit With $6 Billion Fine And Portfolio Manager Indicted in Connection with Million-Dollar Fraud Scheme 

In a blockbuster settlement, DOJ unleashed its full power against Allianz Global and key portfolio managers responsible for a massive, long running fraud scheme involving a series of private investment funds managed by Allianz Global Investors U.S. (AGI).  These funds eventually collapsed as a result of the economic hardships caused by the pandemic, resulting in investor losses of billions of dollars. Gregoire Tournant, Chief investment...