The US hedge fund Och-Ziff Capital Management Group has been
fined more than $400m (£310m) to settle charges connected to the bribery
of "high-level government officials in Africa", the US finance watchdog
body, the SEC says in a statement.
It
adds that "the illicit payments induced the Libyan Investment Authority
sovereign wealth fund to invest in Och-Ziff managed funds".
Bribes
were also paid for mining rights and to influence government officials
in Libya, Chad, Niger, Guinea, and the Democratic Republic of the
Congo.
“Och-Ziff engaged in complicated, far-reaching schemes to
get special access and secure significant deals and profits through
corruption,” said Andrew J. Ceresney, Director of the SEC Enforcement
Division.
The SEC says that the company and its CEO Joel Frank have neither admitted nor denied the findings.
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