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Allianz Fund Managers’ Paydays Could Be Followed by Prison

  • Greg Tournant allegedly plotted cover-up at construction site
  • His lawyers say investor losses aren’t the result of any crime
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Allianz Fund to Pay $5.8 Billion After Fraud Guilty Plea
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He was a hedge-fund manager supposedly under the watchful eye of a “master cop” -- an Allianz SE unit that policed his every move.

Instead, U.S. authorities say, Greg Tournant sold lies to investors that cost customers, and now Allianz, billions of dollars, and resulted in a guilty plea to federal charges of securities fraud by Allianz Global Investors US.