Och-Ziff’s African (formerly lucrative) nightmare

Och-Ziff Capital Management Admits To Role In Africa Bribery Conspiracies And Agrees To Pay $213 Million Criminal Fine From the U.S. Attorney’s Office for the Eastern District of New York: "Och-Ziff Enters into 3-Year Deferred Prosecution Agreement; Och-Ziff Subsidiary Pleads Guilty to Conspiracy to Violate the FCPA" BROOKLYN, NY – The U.S. Attorney’s Office for … Continue reading Och-Ziff’s African (formerly lucrative) nightmare

“Apartheid stole the past, corruption steals our future” – South Africa protests graft

Wake-up call for Zuma government?  Unlikely as ANC battles crises on many fronts On September 30, 2015, several major South African cities saw a significant turnout of the Republic's denizens taking to the streets, protesting rampant perceived corruption in their country: demonstrations took place, inter alia, in Pretoria, Cape Town, Polokwane, and Durban.  They numbered in … Continue reading “Apartheid stole the past, corruption steals our future” – South Africa protests graft

Increased anti-corruption enforcement across Africa?

Chimera or Reality -- Is Africa stepping up its anti-graft game? If one is to believe the media attention that has been bestowed upon anti-corruption enforcement by various African jurisdictions, there has been an uptick in successful anti-graft campaigns across the continent.  Or is there...?  Has Africa truly embraced the prosecution of well-to-do businessmen and … Continue reading Increased anti-corruption enforcement across Africa?

Halliburton to Goodyear: FCPA risks and due diligence in foreign acquisitions

Averting their eyes from Africa: Goodyear's $16m Kenya/Angola settlement highlights risk of insufficient due diligence Andreas Stargard. "Foreign acquirers must understand and -- likely -- challenge the status quo of their new African subsidiaries" When acquiring an African company, nothing is "business as usual."  Neither pre- nor post-acquisition can foreign parent corporations simply avert their … Continue reading Halliburton to Goodyear: FCPA risks and due diligence in foreign acquisitions