U.S. DOJ looking into conduct of Allianz fund managers

REUTERS

The U.S. Department of Justice (DOJ) investigation into German insurer Allianz (ALVG.DE) is looking at possible misconduct by fund managers and misrepresentation of risk to investors, three people with knowledge of the matter told Reuters. read more »

Three Operators of Financial Services Firm Charged and Arrested in Alleged $155 Million Investment Fraud Scheme

DOJ

A three-count criminal indictment was unsealed yesterday in federal court in the Eastern District of New York charging Roberto Gustavo Cortes Ripalda, 54, of Madrid, Spain; Fernando Haberer Bergson, 48, of Buenos Aires, Argentina; and Ernesto Heraclito Weisson Pazmino, 53, of Miami, Florida, with conspiring to defraud investors and financial institutions as part of an international fraud scheme stretching through the United States, South America, and Europe. The defendants are each charged with conspiracy to commit wire fraud, conspiracy to commit bank fraud, and conspiracy to commit money laundering. Federal agents arrested Weisson in Miami yesterday. Cortes and Haberer were also arrested yesterday in Spain and Argentina, respectively. read more »