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U.S. Hedge Fund Fined $400 Million Over Bribery Claims in Five African States

A U.S. hedge fund, which has been linked to a $150 million investment that helped Zimbabwean strongman Robert Mugabe cling on to power in 2008, has been fined more than $400 million to settle charges connected to the bribery of officials in five African countries. The United States financial watchdog—known as the Securities and Exchange Commission (SEC)—found that New York-based Och-Ziff had paid bribes to secure mining rights and influence government officials in Libya, Chad, Niger, Guinea and Democratic Republic of Congo.
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