Och-Ziff Found Guilty of Bribing LIA
The Libya Herald reports that the US Securities and Exchanged Commission (SEC) has ruled that investment mandates secured by US hedge fund Och-Ziff with the Libyan Investment Authority in 2007 were obtained through bribery.
This week the firm was told to pay $413 million after it pleaded guilty to bribery in Libya as well as Chad, the Democratic Republic of Congo, Guinea and Niger.
The SEC report into the Libyan payola does not name names but says the US firm paid $3.7 million to win the business. It seems clear from its findings that Saif Qadaffi received a share of the bribe along with Abdullah Senussi, the Muammar Qadaffi’s security chief.
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