Hedge Funds

Och-Ziff to pay $400m to settle US foreign bribery probe

Hedge fund company will enter deferred prosecution agreement that could be announced Thursday

Och-Ziff to pay $400m to settle US foreign bribery probe
Photo: iStockPhoto

Federal criminal authorities are firing a shot at Wall Street firms seeking lucrative business in resource-rich developing countries.

In a case widely watched on Wall Street, Och-Ziff Capital Management Group will pay more than $400 million to settle federal charges it paid tens of millions of dollars in bribes through intermediaries to African government officials, and a unit will plead guilty to criminal charges, according to people familiar with the matter.

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