NEW YORK CITY: Hedge fund Och-Ziff Capital Management Group will pay $413 million to settle charges it bribed officials in the Democratic Republic of the Congo, Libya and other African countries, officials said on Thursday (Friday in Manila).
Och-Ziff, which has more than $39 billion under management, paid bribes to officials to secure mining rights and to win investment in the company from a Libyan sovereign wealth fund, according to officials from the US Justice Department and Securities and Exchange Commission.
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