A former Allianz SE hedge fund manager charged with fraud over billions of dollars in investor losses pleaded guilty to providing altered documents to hide the riskiness of the funds’ investments, two years after a unit of the company agreed to pay $5.8 billion in penalties.
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Allianz Global Assistance (AGA) travel protection $19.75M class action settlementAG Ferguson: Insurance company must repay every penny to Washingtonians it denied due to mental health discriminationAllianz US Unit Ordered to Pay $6 Billion in Securities Fraud CaseYes, the Allianz Global Assistance travel protection class action lawsuit settlement is realAt a hearing in federal court Friday in Manhattan, Gregoire Tournant changed his plea and admitted to two counts of investment adviser fraud in managing a group of hedge funds that collapsed during the pandemic. The unit, Allianz Global Investors US, pleaded guilty to fraud in 2022 for misleading investors seeking low-risk investments.
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Chief Investment Officer Of Allianz Global Investors U.S. Pleads Guilty To Investment Adviser Fraud