Former Allianz Hedge Fund Manager Waived Privilege, Court Says

A former Allianz Global Investors US LLC hedge fund manager accused of leading a multibillion dollar investment fraud isn’t entitled to any relief on claims that the government’s case relies on ill-gotten privileged information.

A defendant can waive privilege in numerous ways, including by signing an agreement that permits others to grant access to his confidential information, which is exactly what happened here, Judge Laura Taylor Swain said.

The US District Court for the Southern District of New York rejected Gregoire Tournant’s bid to dismiss the indictment, as well as his requests for discovery and an evidentiary hearing to determine ...