Och-Ziff CFO 'hopeful' bribery probe can be resolved in the 'near term'

August 2, 2016 9:23 AM EDT

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BOSTON (Reuters) - Och-Ziff's Chief Financial Officer, Joel Frank, said on Tuesday that the company is "hopeful" that it can resolve the U.S. government's probe into bribery charges in the "near term."

The company said it is in advanced stages of negotiations but hasn't reached a settlement yet.

The Justice Department has alleged that Och-Ziff paid bribes to African officials in return for investments in its alternative funds.

(Reporting by Svea Herbst-Bayliss)

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