December 06, 2024
A New York federal judge on Friday declined to sentence a former portfolio manager for Allianz SE's U.S. unit to any time in prison for lying to investors about the riskiness of a group of private investment funds that lost over $7 billion when the COVID-19 pandemic hit.
June 07, 2024
A former portfolio manager at Allianz SE's U.S. unit told a Manhattan federal judge Friday that he lied to investors about the risks of the German finance giant's now-defunct Structured Alpha Funds, admitting to his role in a $6 billion fraud.
September 20, 2023
The former lead portfolio manager of Allianz Global Investors U.S. on Tuesday asked a New York federal judge to force prosecutors to turn over more details about their $6 billion fraud case alleging that the former executive lied to certain institutional investors about the riskiness of some Allianz funds, and trim down the indictment.
August 17, 2023
A former Allianz executive can't claim that his former attorneys at Sullivan & Cromwell LLP betrayed him to obtain a $6 billion fraud settlement with the finance company because he had unambiguously waived his right to attorney-client privilege, a New York federal judge said Wednesday.
August 04, 2023
A former Allianz portfolio manager who claims his former counsel at Sullivan & Cromwell LLP sold him out to secure a favorable $6 billion deal for the financial services firm cannot escape charges that he was the mastermind behind a scheme to defraud institutional investors, a New York federal judge has ruled.
April 19, 2023
A former Allianz portfolio manager told a New York federal judge Wednesday that the U.S. Department of Justice's corporate criminal enforcement policy was behind his Sullivan & Cromwell LLP attorneys' decision to sell him out to the government in favor of Allianz, its corporate client.
January 30, 2023
A former portfolio manager for Allianz SE's U.S. unit claims that his old counsel at Sullivan & Cromwell LLP sold him out and used his privileged communications against him in order to secure a favorable $6 billion deal for the financial services firm.