Och-Ziff To Pay $412 Million To Settle US Foreign Bribery Charges
September 30, 2016
Och-Ziff Capital Management Group LLC will pay $412 million and CEO Daniel Och will pay $2.17 million to resolve U.S. probes into the hedge fund’s role in bribing officials in several African countries, U.S. authorities said on Thursday.
In the first U.S. foreign bribery case against a hedge fund, Och-Ziff subsidiary OZ Africa Management GP LLC pleaded guilty in federal court in Brooklyn to participating in a scheme to bribe officials in the Democratic Republic of Congo.