Allianz Subsidiary Pleads Guilty to Defrauding Investors

A subsidiary of Allianz SE has agreed to pay more than $6 billion in fines and restitution.


Photo:

Benjamin Girette / Bloomberg News

One of the Allianz SE‘S

ALIZF 2.74%

The US investment division pleaded guilty and agreed to pay more than $6 billion in fines and restitution to a scheme to defraud private fund investors, the Justice Department said on Tuesday.

Three former employees of Allianz Global Investors were also charged in the scheme. Two have pleaded guilty.

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https://www.wsj.com/articles/allianz-subsidiary-pleads-guilty-to-defrauding-investors-11652794210?mod=rss_markets_main Allianz Subsidiary Pleads Guilty to Defrauding Investors

Edmund DeMarche

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