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Allianz to sell US fund management unit to Voya after SEC ban
Voya Investment Management will add about $120 billion of assets under management as well as some investment teams.
Allianz unit to plead guilty, pay billions over hedge fund loss
The agreement calls for the firm to forfeit $463 million and pay $3.2 billion in restitution to victims of the fraud as well as a $2.3 billion penalty.
