How Trump’s Washington Helped a Hedge Fund Titan Move On From an African Bribery Scandal
- Firm freed from sanction that was triggered by bribery scandal
- U.S. punishment restricted fundraising for firm’s hedge funds
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The hedge fund firm founded by billionaire Daniel Och has finally put one of the industry’s biggest scandals behind it -- quietly.
Seizing on a business-friendly shift at the Securities and Exchange Commission during the Trump administration, Och-Ziff Capital Management Group Inc. has persuaded the regulator to lift a punitive sanction that was imposed on the firm in the wake of a multiyear investigation into bribery in Africa.