Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Och-Ziff sets aside $200 million for FCPA probe

Jaclyn Jaeger | May 6, 2016

Och-Ziff Capital Management Group, a publicly traded hedge fund firm, disclosed in a quarterly filing this week that it has accrued a $200 million loss, thus far, to resolve violations of the Foreign Corrupt Practices Act.

Och-Ziff said it has been under investigation by the SEC and Department of Justice since 2011 concerning possible violations of the FCPA and other laws. “The investigation concerns an investment by a foreign sovereign wealth fund in some of our funds in 2007 and investments by some of our funds, both directly and indirectly, in a number of companies in Africa,” the company first disclosed in a Form 10-K in 2014.

“We recently have...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.