Allianz Structured Alpha funds lost $7 billion of investor money in March 2020.
Gregoire Tournant, the portfolio manager, has been arrested.
The firm pleads guilty and will pay $5.8 in fines and restitutions.
"Regulation, enforcement & litigation" Posts
Panel Ponzi Prison – Epilogue
Follow-up to the Solar panel lending Ponzi: the CFO got his own 6 years in the clink.
Les bénéfices ça se divise, la réclusion ça s’additionne.
What statisics say about hedge fund fraud and tsarist regimes
Alternatives are complex and opaque. requiring both investment and operational due diligence.
New technologies now permit investment analysis, fraud detection, and operational risk measurement.
Credit Suisse destroys evidence of oligarch yacht loans
Credit Suisse is taking advantage of the situation in Ukraine to eliminate evidence related to the Russian oligarchs’ tax evasion (money laundering?).
Why Bitcoin is not Russia’s salvation from sanctions?
Why isn’t Bitcoin/Blockchain Russia’s salvation from sanctions?
Many people are posting that Bitcoin and blockchain are somehow a solution for sanctions.
Below are reasons for why that line of thinking is not realistic.
The world’s dirtiest money, welcomed by Credit Suisse. Again.
A major leak has just revealed the details of 18,000 private accounts and $100 billion held at Credit Suisse.
The owners include the Who’s Who of corrupt politicians, money launderers, and warmongers.
“How many rogue bankers do you need to have before you start having a rogue bank?”
Another Ponzi style – Movie production
$700,000 on decorating, $345,000 on jets and yachts, $136,000 on casinos and nightclubs, $6.9 m in credit card payments…
The licensing rights didn’t exist. It was a movie rights Ponzi scheme. $690 millions of it.
As usual, many victims are middle-class and retirees, who are now in dire need.
A Fault at FINRA?
“It’s unconscionable that FINRA would stack the deck against American investors”, says PIABA, the plaintiff attorney association.
A judge has excoriated FINRA for having helped Wells Fargo manipulate the arbitrator selection, and letting the arbitration panel take away a plaintiff’s due process.
The hidden $11 Tn hedge fund industry
$11 Trillions worth of hedge funds, half the industry, is barely disclosing any information to the general public. The SEC, which already has valuable information on this well-performing universe, is requesting more disclosure in their Forms PF.
Another Ponzi style – silver trading
Yet another Ponzi, this time with silver trading.
Gaylen Rust from the Rust Rare Coin company, may spend the next 19 year in prison for a $200m Ponzi fraud spanning two decades.
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