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New report accuses City firm of corrupt practices across Africa

Financial regulators in the UK are failing to stop corrupt practices in deals between a leading Wall Street hedge fund and top officials in Zimbabwe and the Democratic Republic of Congo (DRC), claims a report by an international organisation that fights corporate misconduct.

In September 2016, the US Department of Justice (DoJ) charged one of the world’s largest hedge funds, Och-Ziff Capital Management Group (Och-Ziff), which has $40bn in assets under management “with conspiracy to violate the anti-bribery provisions of the (US) Foreign Corrupt Practices Act (FCPA)”, regarding transactions in the DRC and Zimbabwe.

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Post source : http://www.ibtimes.co.uk/london-hub-bribery-its-purest-form-african-mining-deals-1599679

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