Och-Ziff African Unit Expected to Plead Guilty to Bribery

From the New York Times

OZ Africa Management, a unit of the hedge fund giant Och-Ziff Capital Management, is expected to enter a guilty plea to bribery charges on Thursday, according to two people briefed on the matter.

Och-Ziff, a $39 billion hedge fund founded by Daniel Och, is also expected to enter into a deferred-prosecution agreement and pay a fine of around $400 million as it nears the end of a multiyear investigation, according to the people, who spoke on the condition of anonymity.

Mr. Och will also be named in a Securities and Exchange Commission administrative complaint and will enter an agreement over the firm’s inaccurate record-keeping, these people said.

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