Allianz to pay $6bn to settle US securities fraud cases
US regulators announced Tuesday that insurance giant Allianz will pay $6 billion in restitution and fines for a multibillion-dollar fraudulent scheme that affected American teachers, clergy, and other investors. According to the US Securities and Exchange Commission, Allianz Global Investors US, a US unit of the German financial firm, admitted to violating US securities laws … Read more