May 25, 2022
A general indictment charging Gregoire Tournant, the Chief Investment Officer and co-lead Portfolio Manager for private investment funds managed by AGI, was unsealed in regards to a scheme that caused billions of dollars in losses. The guilty pleas of Trevor Taylor and Stephen Bond-Nelson were also unsealed. Gregoire Tournant and his co-conspirators allegedly lied to investors, urging them to invest their pension funds, promising low risk. In March 2020, the funds lost in excess of $7 billion in market value. More than 100 institutional investors, representing more than one hundred thousand individuals, were victims.