WASHINGTON, Sept 29 Hedge fund Och-Ziff Capital
Management Group LLC will pay about $200 million and
Chief Executive Officer Daniel S. Och will separately pay
another $2.2 million to settle civil charges related to bribing
foreign officials, U.S. regulators said Thursday.
The Securities and Exchange Commission said that Chief
Financial Officer Joel Frank, who was also charged, agreed to
settle civil charges as well. The regulator alleged that the
hedge fund used intermediaries, agents and business partners to
pay bribes to high-level government officials in Africa in order
to win investment business.
(Reporting by Sarah N. Lynch; Editing by Jeffrey Benkoe)