| As Allianz
Fraudster Tournant Indicted Kidgloves on
Allianz despite Sanction Violation
By Matthew
Russell Lee, Patreon Maxwell
Book
BBC-Guardian
UK - Honduras
- ESPN
NY
Mag
SDNY COURTHOUSE,
May 17 – A scandal of
Allianz that has been brewing
since the collapse of its
investment funds as COVID set
has given rise to guilty pleas
of two cooperators, and the
indictment of Gregoire
Tournant, by Southern District
of New York prosecutors on May
17.
At issue are
Allianz Global Investors U.S.
LLC's Structured Alpha Funds;
the cooperators are Stephen
Bond-Nelson, who along with
Tournant was discharged in
late 2021, and Trevor
Taylor.
The prosecutors'
statement of facts goes out of
its way to say "The misconduct
occurred only within the small
Structured Products Group at
AGI US. The Government’s
investigation has not revealed
evidence that anyone at AGI US
outside of the Structured
Products Group was aware of
the misconduct before March
2020. The investigation also
has not revealed that anyone
at any other organizations
that fell within the broader
umbrella of the parent company
Allianz SE was aware of or
participated in the
misconduct."
But
Allianz has previously been
fined by the US OFAC for
sanctions violations, and for
example hit with penalties by
the Bermuda Monetary
Authority. So why say that?
Was it a condition the
prosecutors accepted in exchange
for Allianz' guilty plea?
And what is
being done in Germany, by
BaFin and others, so slow on
Wirecard?
Inner City Press
will stay on the case - watch
this site.
***
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