SEC v. Michael L. Cohen; and Vanja Baros, No. LR-23728, Eastern District of New York (Jan. 26, 2017) — Press Release
raw: Michael L. Cohen and Vanja Baros
Michael L. Cohen and Vanja Baros, No. 1:17-cv-00430 (E.D.N.Y. Jan. 26, 2017)
Michael L. Cohen and Vanja Baros, former Och-Ziff executives, were charged with orchestrating a widespread bribery scheme violating the Foreign Corrupt Practices Act, involving tens of millions of dollars in bribes to African government officials.
The SEC alleged that Cohen and Baros caused tens of millions of dollars in bribes to be paid to high-level government officials in Africa, inducing the Libyan Investment Authority sovereign wealth fund to invest in Och-Ziff managed funds and securing mining deals in several African countries. They were charged with violating Sections 30A and 13(b)(5) of the Securities Exchange Act and other regulations. Och-Ziff and two other executives had previously settled related charges for $412 million in 2016.
The U.S. Securities and Exchange Commission charged former Och-Ziff executives Michael L. Cohen and Vanja Baros with orchestrating a widespread bribery scheme violating the Foreign Corrupt Practices Act (FCPA). The scheme involved tens of millions of dollars in bribes to government officials across Africa, including Libya, Chad, Niger, Guinea, and the Democratic Republic of the Congo, to secure investments and mining deals. Cohen and Baros allegedly directed these illicit payments to influence sovereign wealth funds and public officials, benefiting Och-Ziff’s fund performance and asset acquisitions. The SEC alleged that Cohen and Baros violated Sections 30A and 13(b)(5) of the Securities Exchange Act and Rule 13b2-1, while also aiding and abetting violations of the Investment Advisers Act. Och-Ziff and two other executives had previously settled related charges for $412 million in 2016. The SEC’s complaint seeks civil penalties, disgorgement, and injunctive relief against Cohen and Baros, with the investigation supported by the DOJ, FBI, IRS, and multiple international regulators.
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- company och-ziff capital management group
- Michael L. Cohen and Vanja Baros charged with FCPA violations for leading a bribery scheme
- SEC charged Michael L. Cohen and Vanja Baros with FCPA violations
- Och-Ziff Capital Management Group had executives Michael L. Cohen and Vanja Baros involved in bribery scheme
- Michael L. Cohen and Vanja Baros violated Foreign Corrupt Practices Act (FCPA)
- SEC charged Michael L. Cohen and Vanja Baros
- Och-Ziff Capital Management Group had executives Michael L. Cohen and Vanja Baros
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23728 / January 26, 2017 Securities and Exchange Commission v. Michael L. Cohen and Vanja Baros, Civil Action No. 1:17-cv-00430 (E.D.N.Y. filed January 26, 2017) SEC Charges Two Former Och-Ziff Executives with FCPA Violations The Securities and Exchange Commission today charged two former executives at Och-Ziff Capital Management Group with being the driving forces behind a far-reaching bribery scheme that violated the Foreign Corrupt Practices Act (FCPA). Och-Ziff and two other executives previously settled charges against them in the case. The SEC's complaint filed today alleges that Michael L. Cohen, who headed Och-Ziff's European office, and an investment executive on Africa-related deals, Vanja Baros, caused tens of millions of dollars in bribes to be paid to high-level government officials in Africa. Their alleged misconduct induced the Libyan Investment Authority sovereign wealth fund to invest in Och-Ziff managed funds. Cohen and Baros also allegedly directed illicit efforts to secure mining deals to benefit Och-Ziff by directing bribes to corruptly influence government officials in Chad, Niger, Guinea, and the Democratic Republic of the Congo. The Commission's complaint alleges that Cohen and Baros violated Sections 30A and 13(b)(5) of the Securities Exchange Act of 1934 (Exchange Act)and Rule 13b2-1, aided and abetted Och-Ziff's violations of Sections 30A and 13(b)(2)(A) of the Exchange Act, and aided and abetted or caused OZ Management's violations of Sections 206(1), 206(2) and 206(4) of the Investment Advisers Act of 1940 (Advisers Act), and Rule 206(4)-8 thereunder, and that Cohen also violated Section 206(1) of the Advisers Act. The SEC's investigation was conducted by Neil Smith and Paul Block of the FCPA Unit and Rory Alex of the Boston Regional Office. The litigation is being led by Marc Jones and Martin Healey of the Boston Regional Office. The SEC appreciates the assistance of the Fraud Section of the U.S. Department of Justice, the U.S. Attorney's Office for the Eastern District of New York, the Federal Bureau of Investigation, and the Internal Revenue Service's Criminal Investigations Division as well as the assistance of the United Kingdom's Financial Conduct Authority, the Guernsey Financial Services Commission, the Jersey Financial Services Commission, the Malta Financial Services Authority, the Cyprus Securities and Exchange Commission, the Gibraltar Financial Services Commission, and the Swiss Ministry of Justice. For further information see Release No. 34-78989 (Och-Ziff Capital Management Group LLC, et al.) SEC Complaint
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23728 / January 26, 2017 Securities and Exchange Commission v. Michael L. Cohen and Vanja Baros, Civil Action No. 1:17-cv-00430 (E.D.N.Y. filed January 26, 2017) SEC Charges Two Former Och-Ziff Executives with FCPA Violations The Securities and Exchange Commission today charged two former executives at Och-Ziff Capital Management Group with being the driving forces behind a far-reaching bribery scheme that violated the Foreign Corrupt Practices Act (FCPA). Och-Ziff and two other executives previously settled charges against them in the case. The SEC's complaint filed today alleges that Michael L. Cohen, who headed Och-Ziff's European office, and an investment executive on Africa-related deals, Vanja Baros, caused tens of millions of dollars in bribes to be paid to high-level government officials in Africa. Their alleged misconduct induced the Libyan Investment Authority sovereign wealth fund to invest in Och-Ziff managed funds. Cohen and Baros also allegedly directed illicit efforts to secure mining deals to benefit Och-Ziff by directing bribes to corruptly influence government officials in Chad, Niger, Guinea, and the Democratic Republic of the Congo. The Commission's complaint alleges that Cohen and Baros violated Sections 30A and 13(b)(5) of the Securities Exchange Act of 1934 (Exchange Act)and Rule 13b2-1, aided and abetted Och-Ziff's violations of Sections 30A and 13(b)(2)(A) of the Exchange Act, and aided and abetted or caused OZ Management's violations of Sections 206(1), 206(2) and 206(4) of the Investment Advisers Act of 1940 (Advisers Act), and Rule 206(4)-8 thereunder, and that Cohen also violated Section 206(1) of the Advisers Act. The SEC's investigation was conducted by Neil Smith and Paul Block of the FCPA Unit and Rory Alex of the Boston Regional Office. The litigation is being led by Marc Jones and Martin Healey of the Boston Regional Office. The SEC appreciates the assistance of the Fraud Section of the U.S. Department of Justice, the U.S. Attorney's Office for the Eastern District of New York, the Federal Bureau of Investigation, and the Internal Revenue Service's Criminal Investigations Division as well as the assistance of the United Kingdom's Financial Conduct Authority, the Guernsey Financial Services Commission, the Jersey Financial Services Commission, the Malta Financial Services Authority, the Cyprus Securities and Exchange Commission, the Gibraltar Financial Services Commission, and the Swiss Ministry of Justice. For further information see Release No. 34-78989 (Och-Ziff Capital Management Group LLC, et al.) SEC Complaint