African officials say the arrest of a man of Gabon on charges of corruption can help pull the curtain on a long-Operation scandal of foreign corruption that has trapped the giant hedge fund founded by Daniel Och.
US authorities Tuesday arrested Samuel Mebiame, a consultant who has worked for a joint venture involving Och-Ziff Capital Management Group, on charges that he paid bribes to foreign officials to obtain of mining concessions in at least three African countries.
prosecutors have described Mr. Mebiame, the son of a former Prime Minister of Gabon, as a "fixer" who regularly paid bribes to officials in Niger, Guinea and Chad, according to a criminal complaint filed in the Federal Court of the Brooklyn district.
M .. Mebiame, 43, was arrested by F.B.I. Agents in Brooklyn.
Och-Ziff, which manages over $ 39 billion in assets, has not been identified by name in the complaint, referring instead to a "hedge funds in the United States."
But two people informed on the issue, which are not allowed to discuss publicly, confirmed that the hedge fund Och-Ziff was.
hedge fund already has revealed she is the subject of a corruption investigation abroad by the Ministry of Justice and the Securities and Exchange Commission about whether it paid bribes in Zimbabwe, Congo and Libya. earlier this month, Och-Ziff said it "believes that the government will pursue civil and criminal sanctions."
the case Mr. Mebiame turns against allegations of corruption like that are in violation of the foreign corrupt Practices Act, a federal law in 1977 making it a crime for US companies to give "anything of value" to foreign officials to get an "undue advantage" to win business.
Any enforcement action against Och-Ziff is the largest in the hedge fund industry, traditionally a secret corner of the financial world. Och-Ziff told investors that he is nearing a settlement with the government and it has set aside more than $ 400 million for a resolution. Such a regulation could come in the coming months, according to people briefed on the matter
Any settlement between the government and Och-Ziff is a step towards the implementation of the long investigation -. that shook investors - behind the hedge funds. Founded in 1994 by Mr. Och, a former Goldman Sachs, the company was one of the first hedge fund to list publicly in 2007. It manages money for large pension funds and other institutional investors .
In a regulatory filing on Aug. 2, Och-Ziff said her partners were in talks to inject up to $ 500 million in the company to help cover the shortfall of $ 400 million set aside for any fine.
M .. Mebiame the alleged scheme to pay government officials sheds light on a dark side of business relationships in Africa. In the complaint, prosecutors portrayed a world in which officials used their positions of power and control over natural resources for personal gain, given corruption payments in exchange for concessions.
During the investigation, authorities said they relied on recordings of Och-Ziff, banks and even two interviews with Mr. Mebiame himself in which he described the cash payments directly to foreign officials.
M .. Mebiame worked as a consultant for a joint venture between Och-Ziff and a company incorporated in Turkey and Caicos Islands, often using offshore company as a conduit to pay civil servants. In Niger, Mr. Mebiame organized society Turks and Caicos unidentified for payments of more than $ 1.3 million to a company owned by two officials from Niger. In interviews with US officials, he said that sometimes his bribes included payments for "beautiful cars" and payment of legal fees.
In Guinea, Mr. Mebiame and others were involved in rewriting the Guinean mining code on official paper that would be used to notify owners existing legal issues with their mining licenses, according to the complaint.
And in Chad, Mr. Mebiame told federal agents he was "a one-man show," alone ensure uranium concessions for Och-Ziff and its partners.
M .. Mebiame's lawyer, Benjamin B. Tymann, declined to comment.
Joe Snodgrass, a spokesman for Och-Ziff, also declined to comment.
M .. The case of Mebiame could open the door for more action by the government. Indeed, the complaint refers to a number of unidentified co-conspirators, suggesting more charges could come. The Department of Justice has promised to take action against corruption abroad.
The complaint is supported by the Government of trade documents obtained from Och-Ziff, emails obtained through search warrants and corporate documents, bank statements and travel, as well as statements witnesses.
sometimes, Mr. Mebiame Brazen was to ensure that he got his cut of the deals he has undertaken on behalf of Och-Ziff and the Turks and Caicos company, once threatening to go to new media "illegal procedures to secure assets in Africa." He added it would be "the world to know what kind of international crooks you are."
Continue reading the main story
No comments:
Post a Comment