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Violation Tracker Individual Record

Company: Allianz Global Investors U.S. LLC
Current Parent CompanyAllianz
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $5,763,000,000
Year: 2022
Date: May 17, 2022
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: fraud
Violation Description: The Justice Department announced a plea agreement pursuant to which Allianz Global Investors agreed to plead guilty to securities fraud in connection with a scheme in which institutional investors, including public pension funds, were encouragd to invest in risky complex products, resulting in heavy losses. Allianz agreed to pay more than $3 billion in restitution to the innocent victims of this fraud, pay a criminal fine of approximately $2.3 billion, and forfeit approximately $463 million to the Government.
Level of Government: federal
Action Type: agency action
Agency: U.S. Attorney-Southern District of New York
Civil or Criminal Case: criminal
HQ Country of Current Parent: Germany
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.