| The Och-Ziff Capital Management Group has agreed to pay nearly $200 million in penalties for bribing officials to gain investments from sovereign wealth funds, the US Securities and Exchange Commission (SEC) announced in a press release on Thursday.
"The illicit payments induced the Libyan Investment Authority sovereign wealth fund to invest in Och-Ziff managed funds," the release explained. Other bribes were paid to secure mining rights and corruptly influence government officials in Libya, Chad, Niger, Guinea and the Democratic Republic of the Congo, the release noted.............................................Full Article: Source |