Tag Archives | Securities and Exchange Commission (SEC)

LIA Corruption: Och-Ziff to Pay $400m Penalty

Hedge fund Och-Ziff Capital Management Group has agreed to pay a criminal penalty of more than $213 million to the United States Dept of Justce, in connection with a widespread scheme involving the bribery of officials in the Democratic Republic of Congo (DRC) and Libya. It will pay an additional $199 million to the Securities […]

Libya’s Pursuit of Lost Billions ‘in Limbo’

The head of the Libyan Investment Authority (LIA) has told the Financial Times that his efforts to recoup billions of dollars lost through sales of derivatives by Goldman Sachs and other financial institutions are now “in limbo” after the country’s prime minister moved to sack him last week. Mohsen Derregia, head of the sovereign wealth […]

LIA Cooperates With SEC on Goldman Probe

The Libyan Investment Authority (LIA), the country’s sovereign-wealth fund, is reportedly helping the US’s Securities and Exchange Commission’s bribery probe into Goldman Sachs. According to The Wall Street Journal, the fund is cooperating with the SEC on an investigation into whether Goldman violated American anti-corruption laws, after the fund lost 98 percent, or $1 billion, […]