A former Allianz SE hedge-fund manager avoided prison and will instead spend 18 months in home confinement for fraudulently inflating the value of funds that ultimately collapsed, resulting in $3.2 billion in investor losses. Gregoire Tournant, the former chief investment …
JACKSONVILLE, Fla. (AP) — A former financial manager for the Jacksonville Jaguars has been accused of stealing more than $22 million from the franchise through its virtual credit card program between 2019 and 2023, according to a seven-page court filing. …
The former chief financial officer of a Seattle, Washington-based startup took $35 million of his employer’s money without permission and lost it by investing in cryptocurrency before the crypto market crashed last year, according to a federal indictment returned by …
Adidas AG was sued by investors who claim the German sports giant knew about risks of its partnership with the rapper known as Ye long before his anti-Semitic comments were made public. Adidas in October cut ties with Ye, formerly …
Australian contractor Downer said on Monday it faces a shareholder class action for allegedly making some misrepresentations and withholding certain information about a maintenance contract in its domestic utilities business. Downer is currently under investigation by New South Wales’ Independent …
A former Goldman Sachs Group Inc. vice president who goes on trial for insider trading in June is scrambling to pay for his legal defense after he was cut off by the bank’s insurers. Brijesh Goel, who has pleaded not …
For years, Allianz, one of the world’s biggest investors, piled billions into property, wind farms and even London’s sewage system, but now it is moving to shun such “alternative” investments for plain vanilla bonds, people with knowledge of the matter …
The former Allianz SE hedge fund manager charged with fraud over billions of dollars in investor losses asked a judge to throw out the case, claiming lawyers wrongly betrayed him to protect the company. Gregoire Tournant claims in a Monday …
Germany’s Allianz has agreed to pay about $6 billion and its U.S. asset management unit will plead guilty to fraud after a group of its multibillion investment funds collapsed amid market turmoil triggered by the coronavirus pandemic in 2020. Here …
Germany’s Allianz SE agreed to pay more than $6 billion and its U.S. asset management unit pleaded guilty to criminal securities fraud over the collapse of a group of investment funds early in the COVID-19 pandemic. Allianz’s settlements with the …
