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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

DOJ probes finance firms’ dealings with Libya: WSJ

Posted on 04 February 2014

The U.S. Department of Justice is investigating banks, private equity firms and hedge funds that may have violated anti-bribery laws in their dealings with Libya’s government-run investment fund, the Wall Street Journal reported, citing people familiar with the matter. Federal investigators are examining Goldman Sachs Group Inc, Credit Suisse Group AG, JPMorgan Chase & Co, Societe Generale, private equity firm Blackstone Group and hedge fund Och-Ziff Capital Management Group LLC, the Journal said.
The Libyan Investment Authority (LIA) invested up to $1 billion in funds run by all the firms under scrutiny except Blackstone, according to a 2010 audit of the sovereign wealth fund by KPMG, the Journal said………………………………………..Full Article: Source


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