Allianz unit pleads guilty to fraud, loses US licence, will pay $6bn

18-05-2022

Allianz unit pleads guilty to fraud, loses US licence, will pay $6bn

The American subsidiary of global insurance giant Allianz will “plead guilty” to securities fraud and criminal misconduct, and as a result lose its US licence. Its parent company will pay more than $6 billion penalty in connection with the blowout of its so-called Structured Alpha funds early in the pandemic.


Allianz, Fraud, Settlements, Criminal Misconduct, Funds, Asset Management, North America, Insurance, Reinsurance

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