Allianz, Glencore Guilty Pleas Show Tougher US Stance on Crime

Just promising to do better may no longer be enough to mollify a US Justice Department keen to go after corporate crime.

In the space of a single week, the department in May scored two guilty pleas from Glencore Plc and one from a unit of Allianz SE. That follows admissions of guilt in April from two executives at Archegos Capital Management, after it collapsed in what prosecutors said was a market manipulation scheme.

Lisa Monaco

Photographer: Sarah Silbiger/Bloomberg

The spate of guilty pleas marks a change from the prior practice of the agency -- made infamous by the book “The Chickensh-- ...