The Securities and Exchange Commission charged two former executives at Och-Ziff Capital Management Group with orchestrating bribes across Africa that violated the Foreign Corrupt Practices Act.
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The son of a former Prime Minister of Gabon pleaded guilty in federal court Friday to conspiring to violate the Foreign Corrupt Practices Act by bribing government officials in Africa.
Och-Ziff Capital Management Group resolved one of the biggest FCPA enforcement actions ever Thursday, agreeing to pay the DOJ and SEC $412 million for criminal and civil violations.
A Gabon national was arrested Tuesday and charged with conspiracy to bribe officials in at least three African countries to help win mining rights for a joint venture involving U.S. hedge fund giant Och Ziff.
Och-Ziff Capital Management Group LLC said Tuesday it has doubled its reserve for an FCPA settlement to more than $400 million.
Och-Ziff Capital Management Group LLC said Tuesday it has reserved $200 million for a settlement of Foreign Corrupt Practices Act offenses arising from alleged bribes in Libya.
Och-Ziff Capital Management Group said in an SEC filing Wednesday the SEC and DOJ are investigating whether it violated the Foreign Corrupt Practices Act in connection with an investment from a sovereign wealth fund.