Gregoire Tournant told Chief U.S. District Judge Laura Taylor Swain of the Southern District of New York that he was involved in providing altered risk reports to investors between 2014 and 2020 and knew the investors would have wanted to know that the reports had been altered.
June 07, 2024 at 03:04 PM
2 minute read
The former chief investment officer for a group of funds managed by Allianz Global Investors U.S. LLC pleaded guilty Friday to two counts of investment adviser fraud.
Gregoire Tournant, 57, also agreed to forfeit about $17 million in paid and deferred compensation. The charges to which he pleaded guilty carry a combined maximum penalty of 10 years in prison.
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Allianz Insurance Co. office building. Credit: Andreas Prott/Adobe Stock
