UPDATE: Och-Ziff (OZM) Unit Expected to Plead Guilty Over Africa Bribes

September 28, 2016 12:09 PM EDT

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(Updated - September 28, 2016 12:15 PM EDT)

Och-Ziff Capital Management (NYSE: OZM) unit expected to plead guilty over Africa bribes, according to Bloomberg.

UPDATE - Sources said the admission of guilt could come as soon as Thursday as part of a deal with the U.S. SEC and U.S. DoJ.

Och-Ziff has set aside over $400 million for fines and penalties, though it isn't clear what the firm may need to pay.

Litigation is tied to a London-based investing unit of Och-Ziff, which bribed officials in Africa in order to close several mining deals.

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