Och-Ziff Capital Management Group disclosed in restated financials on Tuesday that it is the subject of an ongoing civil and criminal investigation into whether the hedge fund operator may have violated antibribery laws in its dealings with Libya’s government-run investment firm.
Och-Ziff began receiving subpoenas from the Securities and Exchange Commission and requests for information from the Justice Department in 2011, the filing said. The hedge fund operator said the investigation "concerns an investment by a foreign sovereign wealth fund in some of the Och-Ziff funds in 2007 and investments by some of the funds, both directly and indirectly, in a number of companies in Africa."