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Och-Ziff hedge fund to pay $413 mn over Africa bribery charges

AFP
Hedge fund Och-Ziff paid bribes to officials in five African countries to secure mining rights and corruptly influence government officials

Hedge fund Och-Ziff Capital Management Group will pay $413 million to settle charges it bribed officials in the Democratic Republic of the Congo and other African countries.

Och-Ziff paid bribes to officials in five African countries to secure mining rights and corruptly influence government officials, the Securities and Exchange Commission announced. The fund also reached a deferred prosecution agreement with the US Justice Department in a parallel criminal case.