Subsidiary Allianz SE has agreed to pay more than $ 6 billion in fines and restitution.
Photo:
Benjamin Giret / Bloomberg News
One of Allianz SE‘s
ALIZF 2.74%
U.S. investment departments have pleaded guilty and agreed to pay more than $ 6 billion in fines and restitution for a scheme to defraud private fund investors, the Justice Department said Tuesday.
Three former employees of Allianz Global Investors have also been charged in the scheme. The two pleaded guilty.
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