Och-Ziff’s Ex-CFO Fined $35,000 Over African Bribery Scandal

Och-Ziff Capital Management’s ex-finance chief will pay $35,000 to settle claims that he fell short in monitoring expenses that turned out to be linked to bribes, showing one of the hedge fund industry’s most high-profile scandals is still leading to sanctions years after the U.S. government first brought a case.

Joel Frank, who was the firm’s chief financial officer when the alleged illicit payments were made between 2007 and 2011, agreed to settle the Securities and Exchange Commission’s allegations without admitting wrongdoing, according to a Tuesday order. Och-Ziff in 2019 changed its name to Sculptor Capital Management. ...