A New York judge ordered a unit of Allianz SE to pay about $6 billion as punishment for misrepresenting the investment risk posed by a group of hedge funds, imposing a sentence agreed more than a year ago as part of a plea deal.
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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 discriminationEx-Allianz Fund Manager Expected to Plead Guilty in Fraud CaseYes, the Allianz Global Assistance travel protection class action lawsuit settlement is realAllianz Global Investors US had accepted the payout last year when it pleaded guilty to a single criminal charge of securities fraud as part of a deal with federal prosecutors. US District Judge Colleen McMahon announced the sentence Wednesday in Manhattan.
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Chief Investment Officer Of Allianz Global Investors U.S. Pleads Guilty To Investment Adviser Fraud