Allianz Cooperator Used Bathroom Break to Run Out on the SEC

A former portfolio manager for the Allianz SE unit that agreed to pay $5.8 billion over the implosion of its hedge funds in 2020 saw no escape from the questioning of the SEC’s lawyers.

So Stephen Bond-Nelson excused himself to use the bathroom and never returned.

At least, not until he decided to plead guilty and cooperate in the investigation of the fraud.

The U.S. Securities and Exchange Commission was the first to figure out that it wasn’t just the Covid-19 stock market plunge that led to the collapse of Allianz Global Investors’ Structured Alpha Funds, but also fund ...