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Och-Ziff to pay $200 mln to settle foreign bribery charges
September 29, 2016 / 6:41 PM / a year ago

Och-Ziff to pay $200 mln to settle foreign bribery charges

WASHINGTON, Sept 29 (Reuters) - Hedge fund Och-Ziff Capital Management Group LLC will pay about $200 million and Chief Executive Officer Daniel S. Och will separately pay another $2.2 million to settle civil charges related to bribing foreign officials, U.S. regulators said Thursday.

The Securities and Exchange Commission said that Chief Financial Officer Joel Frank, who was also charged, agreed to settle civil charges as well. The regulator alleged that the hedge fund used intermediaries, agents and business partners to pay bribes to high-level government officials in Africa in order to win investment business. (Reporting by Sarah N. Lynch; Editing by Jeffrey Benkoe)

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