Hedge Fund Execs Charged in Multi-Million Dollar Bribery Scheme

U.S. securities regulators on Thursday accused two former executives at hedge fund Och-Ziff Capital Management of masterminding a far-reaching scheme to pay tens of millions of dollars in bribes to African officials.

In a lawsuit filed in federal court in Brooklyn, the U.S. Securities and Exchange Commission accused Michael Cohen, who headed Och-Ziff’s European office, and Vanja Baros, a former analyst, of violating the Foreign Corrupt Practices Act.

The lawsuit came after Och-Ziff agreed in September to pay $412 million to resolve U.S. investigations relating to the hedge fund’s role in bribing officials in several African countries.

Read more: Och-Ziff Execs in Multi-Million Dollar Bribery Scheme | Anti Corruption Digest http://anticorruptiondigest.com/anti-corruption-news/2017/01/30/och-ziff-execs-in-multi-million-dollar-bribery-scheme/#ixzz4XGJkTPGK