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Och-Ziff to Pay Over $400 Million in Bribery Settlement

By Tony Seruga

Daniel S. Och, chief executive officer of Och-Ziff Capital Management Group.CreditRick Maiman/Bloomberg News

Africa once represented a lucrative new market for a giant New York hedge fund.

More than a decade later, the hedge fund, Och-Ziff Capital Management, and its founder, Daniel Och, are paying the price for what the United States government has charged were more than $100 million in bribes paid to government officials in Libya, Chad, Niger, Guinea and the Democratic Republic of Congo to secure natural resources deals and other investments.

OZ Africa Management, a unit of Och-Ziff, pleaded guilty in Federal District Court in Brooklyn on Thursday to one count of conspiracy — an unusual violation for a hedge fund of a federal law aimed at preventing bribery of foreign officials…

Och-Ziff to Pay Over $400 Million in Bribery Settlement

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