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Rafał Wietrzyński

6 billion fine for Allianz

German insurer Allianz broke the law in the United States, so it will be required to pay a fine of as much as $6 billion.

Allianz Global Investors US recently pleaded guilty to violating securities laws.

It began in early 2016 and involves Structured Alpha funds.

‍The onset of the 2020 pandemic and the collapse of the markets showed that Allianz had misrepresented the risks. This led to huge losses, investors lost billions and the funds suffered huge losses. This is what the US Securities Exchange Commission reported.