U.S. charges ex-Och-Ziff executive with fraud, obstruction of justice

From Reuters - January 3, 2018

NEW YORK (Reuters) - U.S. prosecutors have charged Michael Cohen, the former head of European investing at hedge fund Och-Ziff Capital Management Group (OZM.N), with fraud and obstruction of justice, according to court documents unsealed on Wednesday.

In an indictment filed in Brooklyn, New York federal court, prosecutors said that Cohen, 46, concealed conflicts of interest from a United Kingdom-based charitable foundation and obstructed a U.S. Securities and Exchange Commission investigation into corruption involving the fund in Africa.

The government charged Cohen, who lives in London, with 10 counts ranging from conspiracy to commit investment adviser fraud to making false statements.

Cohen, according to the indictment, failed to tell the charitable foundation that one of the sellers of an African mining companys shares owed him millions of dollars on a delinquent loan. The government also alleged that Cohen tried to cover up the facts when the U.S. Securities and Exchange Commission began probing the hedge fund in 2011.


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