Prosecutors: NYC investment adviser blamed in $5B fraud
Federal authorities say bus drivers and charitable groups were among victims who lost $5 billion from private investment funds once worth $11 billion
Source: mymotherlode.com
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Allianz subsidiary, former portfolio managers charged over massive fraud
Allianz Global Investors and three of its former portfolio managers have been charged by the US regulator over a multi-billion-dollar securities fraud sold to pension funds that went on for more than four years.
Source: financialstandard.com.au
Allianz to Pay $6 Billion in US Fraud Case, Fund Managers Charged
NEW YORK/MUNICH—Germany's Allianz SE agreed to pay more than $6 billion and its U.S. asset management unit pleaded ...
Source: theepochtimes.com
US Department Of Justice: Three Portfolio Managers And Allianz Global Investors U.S. Charged In Connection With Multibillion-Dollar Fraud Scheme - Gregoire Tournant, Chief Investment Officer Of Allianz Global Investors U.S.'S Structured Products Group, And Two Others Charged With Fraud Offenses
<p><span>An indictment was unsealed today in the Southern District of New York charging Gregoire Tournant, the Chief Investment Officer and co-lead Portfolio Manager for a series of private investment funds managed by Allianz Global Investors U.S. LLC (AGI), with securities fraud, investment adviser fraud and obstruction of justice offenses in connection with a scheme to defraud investors. Those funds ultimately collapsed, leading to billions of dollars of investor losses. Tournant surrendered to Postal Inspectors in Denver, Colorado, this morning and is expected to be presented la...
Source: mondovisione.com
Allianz Global Investors US charged with fraud to pay $6bn
The US SEC has charged Allianz Global Investors U.S. LLC (AGI US) and three former portfolio managers with fraud.
Source: opalesque.com