A huge hedge fund just settled bribery charges with the feds for $200 million

Dan Och

(Dan Och.AP Images )

Och-Ziff Capital Management has agreed to settle charges of bribery, paying nearly $200 million to the Securities and Exchange Commission.

The hedge fund's CEO, Dan Och, agreed to pay nearly $2.2 million to settle the charges with the SEC, as did the firm's CFO Joel Frank.

"Och-Ziff engaged in complicated, far-reaching schemes to get special access and secure significant deals and profits through corruption,” Andrew J. Ceresney, director at the SEC enforcement division, said in a statement.

Och-Ziff was accused of illegally paying "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," the SEC said.

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