(Reuters) Och-Ziff Capital Management Group (OZM.N) on Tuesday reported a second-quarter loss after the largest publicly traded U.S. hedge fund company set aside $214.3 million to eventually settle bribery charges with the U.S. government.
Chief Financial Officer Joel Frank said the company hoped to end the matter in the near future. Shares of Och-Ziff were up 6 percent at $3.55 in premarket trading.
This marks the second straight quarter that Och-Ziff reserved money to settle charges that it paid African officials in return for investments in its alternative asset funds, raising the total to $414.3 million. The accruals suggest the settlement may be around $400 million.
