Allianz to pay $6 billion in U.S. fraud case, fund manager charged

Allianz to pay $6 billion in U.S. fraud case, fund manager charged

NEW YORK/MUNICH, May 17 (Reuters) – Germany’s Allianz SE (ALVG.DE) agreed to pay more than $6 billion and its U.S. asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic. Allianz’s settlements with the U.S. Department of Justice and U.S. Securities and …

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