A federal judge in New York declined to throw out fraud charges against a former Allianz fund manager who claimed he was double-crossed by his lawyers, citing the terms of a joint defense agreement the executive entered into with the firm’s counsel.
The ruling by Judge Laura Taylor Swain allows federal prosecutors to forge ahead with their prosecution of Gregoire Tournant, a former chief investment officer for one of Allianz’s U.S. investing divisions who was blamed by the firm for losses it suffered during a market meltdown in 2020 sparked by the Covid-19 pandemic.
Source: Former Allianz Executive Loses Bid to Toss Fraud Charges – WSJ
