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Och-Ziff to pay $412M for FCPA violations

Jaclyn Jaeger | September 30, 2016

Och-Ziff Capital Management Group, a publicly traded alternative investment and hedge fund firm, and its wholly-owned subsidiary, OZ Africa Management, will pay a combined $412 million in criminal and regulatory penalties in connection with a widespread scheme involving the bribery of officials in Africa.  

Och-Ziff will pay a criminal penalty to the Department of Justice of more than $213 million. “This case marks the first time a hedge fund has been held to account for violating the Foreign Corrupt Practices Act,” said Principal Deputy Assistant Attorney General David Bitkower.

In related proceedings, the SEC filed a cease-and-desist order against Och-Ziff and OZ Management, whereby Och-Ziff agreed to pay approximately $199 million in disgorgement to the SEC, including...

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