Och-Ziff to pay $412 million to settle U.S. foreign bribery charges

In the first U.S. foreign bribery case against a hedge fund, Och-Ziff subsidiary OZ Africa Management GP LLC pleaded guilty in federal court in Brooklyn to participating in a scheme to bribe officials in the Democratic Republic of Congo. Och-Ziff meanwhile entered into a deferred prosecution agreement, in which charges related to conduct in Congo, Libya, Chad and Niger would be dropped after three years if it follows the terms of the deal.