What next? DRED said in March 2017: “When [a lease] assignment request is made, it will be reviewed by the DRED Commissioner, in consultation with the Office of the Attorney General, followed by a recommendation to the Governor and Executive Council.”
In June, DRED and the NH attorney general asserted that the change in ownership of the ski area lease at Mount Sunapee was “structured in a manner to avoid triggering the assignment provision of the Lease.”
Provided below are news articles about Och-Ziff Capital Management Group LLC and information released by the U.S. Department of Justice and U.S. Securities and Exchange Commission. See other articles, as well.
Och-Ziff’s Sprawling Africa Bribery Network Laid Out by U.S. – Bloomberg.com – September 29, 2016
- Hedge fund billionaire turned blind eye to corruption risks
- Scheme sought to win deals from officials, including a Qaddafi
Those actions are part of a multiyear bribery conspiracy across Africa that benefited Och’s firm, Och-Ziff Capital Management LP, U.S. authorities said Thursday. The prosecution included regulatory sanctions against Och and another executive, a guilty plea by an Och-Ziff unit and $415 million in fines and penalties. It also broke new ground: Och-Ziff became the first hedge fund to be criminally sanctioned by the U.S. in an emerging-economy bribery scheme.
Och-Ziff Capital Management Admits to Role in Africa Bribery Conspiracies and Agrees to Pay $213 Million Criminal Fine – U.S. Department of Justice, Office of Public Affairs – September 29, 2016
Och-Ziff Enters into Three-Year Deferred Prosecution Agreement; Subsidiary Pleads Guilty to Conspiracy to Violate the Foreign Corrupt Practices Act
A New York-based alternative investment and hedge fund manager, Och-Ziff Capital Management Group LLC (Och-Ziff), and its wholly-owned subsidiary, OZ Africa Management GP LLC (OZ Africa), entered into resolutions to resolve criminal charges and agreed to pay a criminal penalty of more than $213 million in connection with a widespread scheme involving the bribery of officials in the Democratic Republic of Congo (DRC) and Libya.
Och-Ziff Hedge Fund Settles FCPA Charges – U.S. Securities and Exchange Commission – September 29, 2016
The Securities and Exchange Commission today announced that Och-Ziff Capital Management Group has agreed to pay nearly $200 million to the SEC to settle civil charges of violating the Foreign Corrupt Practices Act (FCPA).
Och-Ziff CEO Daniel S. Och agreed to pay nearly $2.2 million to settle SEC charges that he caused certain violations along with CFO Joel M. Frank, who also agreed to settle the charges.
The SEC detected the misconduct while proactively scrutinizing the way that financial services firms were obtaining investments from sovereign wealth funds overseas. The SEC’s subsequent investigation of Och-Ziff found that the fund used intermediaries, agents, and business partners to pay bribes to high-level government officials in Africa. According to the SEC’s order, the illicit payments induced the Libyan Investment Authority sovereign wealth fund to invest in Och-Ziff managed funds. Other bribes were paid to secure mining rights and corruptly influence government officials in Libya, Chad, Niger, Guinea, and the Democratic Republic of the Congo.
Och-Ziff Suffered $13 Billion in Withdrawals as Clients Fled – Bloomberg.com – February 15, 2017
- Redemptions over the last 13 months came amid settlement
- Resolved five-year bribery probe in September with regulators
Och-Ziff Capital Management Group LLC, one of the world’s biggest hedge fund firms, suffered withdrawals of about $13 billion over the last 13 months as the company settled a five-year bribery probe and saw its founder Dan Och singled out by regulators for ignoring red flags and corruption risks.