- 19 Mar 2014 at 2:31 PM
Since it was restating its financials anyway after the SEC made it consolidate some CLOs, Och-Ziff Capital Management thought it might mention that the SEC (and Justice Dept.) is also interested in some bribery that may or may not have gone on before the Libyan dictator’s end.
Och-Ziff began receiving subpoenas from the Securities and Exchange Commission and requests for information from the Justice Department in 2011, the filing said. The hedge-fund operator said the investigation “concerns an investment by a foreign sovereign wealth fund in some of the Och-Ziff funds in 2007 and investments by some of the funds, both directly and indirectly, in a number of companies in Africa.”
The investigation involves the Foreign Corrupt Practices Act, Och-Ziff said. That law prohibits U.S. companies and companies listed on U.S. stock exchanges from paying bribes to foreign officials. U.S. authorities consider employees of state-owned investment funds, such as the Libyan Investment Authority, to be foreign officials….
Och-Ziff said it was “unable to determine how the investigation will conclude” and that an “adverse outcome could have a material effect” on its business and “financial condition.”
Och-Ziff also said that it had cooperated with “a number of ongoing regulatory investigations and examinations, both domestically and internationally” and said it expected further regulatory scrutiny in the future.
- Hedge Fund Manager Keeps A Detailed Record Of All The Asses He's Grabbed
- Bonus Watch '14: Congrats On Being An Investment Banker
- Bill Gross Reacts To George Soros's $500 Million Investment Like He's Been Awarded The Presidential Medal Of Freedom
- Bonus Expectations Got You Down? Boss Riding Your Ass? Quit And Support Yourself Via Fantasy Football
- Mathew Martoma Is In Miami
- Deal Judge: We're Going To Need A New Master of Coin
- David Rubenstein Will Have Warren Buffett Know He's Not A Porn Shop Operator
- Steve Cohen Continues To Rid Firm Of Incentives For Employees To...Y'Know...
- ‘Exploiting A Loophole In Banking Regulation And Using It To Unduly Influence Commodities Markets’ Is Not One Of Goldman’s Best Trading Ideas For Next Year
- Opening Bell: 11.21.14
- Executive Editor
- Bess Levin
How Can We Help You?
- Send tips to:
- For tech issues email:
- For advertising or events email:
- For research or custom solutions email:
- Dealbreaker is published by Breaking Media.
For a full list of our sites, services and staff visit breakingmedia.com