A former fund manager in the US division of Allianz has accused the firm and its lawyers of double crossing him, according to a report in the Wall Street Journal.
Gregoire Tournant, a chief investment officer and lead portfolio manager of the Structured Alpha trading strategy, was blamed for losses the firm suffered during Covid-19. In a motion filed in New York federal court, Tournant, said prosecutors encouraged lawyers that were acting for the firm and himself personally to switch sides and use his privileged communications to build a false narrative against him and use him as a scapegoat. The manager was accused of securities and investment adviser fraud charges in 2022, when the Securities and Exchange Commission said he orchestrated a mul...
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