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Former Allianz chief investment officer pleads guilty in US to adviser fraud

( June 7, 2024, 20:32 GMT | Official Statement) -- MLex Summary: Gregoire Tournant, the former chief investment officer and co-lead portfolio manager for a series of private investment funds managed by Allianz Global Investors US LLC, pleaded guilty to investment adviser fraud. AGI and two other AGI employees previously pleaded guilty, and AGI paid more than $3 billion in restitution to the innocent victims of this fraud, paid a criminal fine of approximately $2.3 billion, and forfeited approximately $463 million to the government, prosecutors said.Statement follows below:...

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