Och-Ziff also admitted that from 2007 he hired an external agent to help the company secure an investment by the Libyan Investment Authority (LIA), the country`s sovereign wealth fund, knowing that the agent had to pay bribes to Libyan officials. According to the Court`s documents, the agent was consulted without formal authorization or duty of care. The company admitted that, as of February 2007, the agent worked on behalf of Och-Ziff on an asset placement by the LIA, including the establishment of a meeting between a senior Och-Ziff official and the Libyan official, who was empowered to make investment decisions for the LIA. According to court documents, Och-Ziff received a $300 million investment from the LIA in the company`s hedge funds at the end of November 2007. Och-Ziff acknowledged that he subsequently reached an agreement to pay a US$3.75 million “research fee” to the agent, knowing that all or part of the fees would be paid to Libyan officials in exchange for their assistance in obtaining Lia`s investments. In addition, Och-Ziff admitted that he had falsified his books and recordings and attempted to conceal and conceal the bribes paid by the agent by paying the search costs through a fictitious advisory arrangement. The hedge fund giant has also reached a three-year legal agreement with the Department of Justice in parallel criminal proceedings with a $213 million fine. Following the companies` admission, Och-Ziff employees began discussions with a businessman working in the Democratic Republic of Congo at the end of 2007 to enter into a partnership based on special access to lucrative investment opportunities in the DRC, with the participation of the country`s diamond and mining sectors. Och Ziff`s staff learned that the businessman had access to these attractive investment opportunities by making corrupt payments to senior officials in the Democratic Republic of Congo, as acknowledged by the companies.

Under the appeal agreement, Och-Ziff, in collaboration with the businessman, concluded several drA-related transactions between 2008 and 2012, considering that Och-Ziff`s funds would be used in part to pay large sums of money to senior DRC officials to ensure access to investment opportunities and offer them an acceptable preference. In late 2008, after a Och Ziff staff member was informed that a review of the businessman`s records had revealed payments to DRC officials, the latter indicated that all references to these payments should be removed from a final audit report, the companies admitted. Under the plea agreement, the businessman paid tens of millions of dollars in bribes to officials in the Democratic Republic of Congo in exchange for investment opportunities that secured more than $90 million in profits for Och-Ziff. On September 14, 2018, a federal judge in the Southern District of New York upheld, as a class action, a securities fraud complaint against the hedge fund Och-Ziff Capital Management Group LLC (“Och-Ziff”) and two of its executives. [1] Shortly after the class certification decision, the parties informed the Tribunal that they had reached an agreement in principle on the resolution of the case, based on allegations that Och-Ziff did not provide adequate information on their knowledge of the investigation.

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