A former Allianz fund manager was spared prison time on Friday over his role in a meltdown of private investment funds sparked by the COVID-19 pandemic that caused an estimated $7 billion of investor losses.

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Reuters

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Former Allianz employee spared prison time over $7 billion funds collapse

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MUNICH, Germany (Reuters) –     Germany’s Allianz said on Monday it plans to distribute at least three-quarters of its net profit to shareholders via dividends and share buybacks over the next three years. The Munich-based insurer said it would maintain its dividend policy of distributing 60% of the net profit after minority interests directly. Additionally, from 2025 to 2027, at least 15% of the profit would be returned to shareholders on avera…

WTVB

Midwest Communications

Allianz wants to redistribute three quarters of profit to shareholders

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Former Allianz Employee Spared Prison Time Over $7 Billion Funds Collapse

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Philip Anschutz

Investing.com

Denver Gazette

By Luc Cohen NEW YORK –     A former Allianz fund manager was spared prison time on Friday over his role in a meltdown of private investment funds sparked by the COVID-19 pandemic that caused an estimated $7 billion of investor losses. Gregoire Tournant, 57, of Basalt, Colorado, pleaded guilty in June to two counts of investment adviser fraud. He agreed to give up $17.5 million in ill-gotten gains, including bonuses that were inflated by his fra…

regionalmedianews.com

Former Allianz employee spared prison time over $7 billion funds collapse  - Regional Media News

2024-12-07 00:41:52 :  
(Bloomberg) — A former Allianz SE hedge fund manager who ultimately collapsed, costing investors $3.2 billion, spent 18 months in home confinement instead of jail.   
Gregoire Tournant, the former chief investment officer of U.S.-based Allianz hedge fund Structured Alpha Group, was sentenced Friday in Manhattan by U.S. District Judge Laura Taylor Swain. The penalty also included three years of probation, far less than the…

Thelocalreport.in

Ex-Allianz fund manager avoids more than $3 billion in jail time

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Former Allianz employee spared prison time over $7 billion funds collapse

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