Footage: On 5 October 2016, AfDB President Akinwumi Ayodeji Adesina receives his African Passport, symbol of continental integration

Uganda: A Motion for a Resolution of Parliament urging Government to make a Police that restricts the Charging of Rent in Foreign Currency by Landords of Business Premisses (06.10.2016)

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Besigye under house-arrest, yet again!

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The Uganda Police Force has put the former Presidential Candidate and Forum for Democratic Change flag-bearer under house arrest as he just arrived from diaspora. Yesterday he was towed from the Central Business District of Kampala after visiting the Crane Bank.

Therefore this morning… the Police are keeping him under siege again without any court order as they fear his presence as it turns into processions and public reactions to the man being free.

“The police mouthpiece Andrew Felix Kaweesi told Chimpreports on Wednesday that the blockade was only precautionary in nature. “We stopped Dr. Besigye from leaving home today under preventive measures. We had received intelligence reports that he and his group had organized to cause havoc in the city,” Kaweesi told us” (…) “Whenever we get information of planned unrest we act. We’re also are using a containment approach which is keeping close watch on all his movements and activities,” he said.” (Waswa, 2016).

This is what the rule of law has boiled down to:

Besigye is not allowed to justice, freedom or liberty. While his “Treason Charge” is being prolonged as possible; Dr. Kizza Besigye is not allowed to leave his home anymore. The Uganda Police Force is claiming that he is the problem. Their reasoning is that Besigye is causing a stir; initially it is the Police who cause it together with orders from above high.

Besigye is claimed to be the problem, not the police who uses the tear-gas, batons on the civilians and roadblocks to create havoc. That is not something one political person is doing on his own that is the Police making. Since it is like that the innocent man Besigye who has fought for justice is deliberately taken away from him.

The unrest is created by Police as they are trying to contain a popular man who has the support of the people, that is why there are only hired crowds and many people on the parades of Museveni as they are served and paid for their travels; while Besigye shows up on every corner and shows that he is the legitimate leader. Something that the leadership cannot handle at the moment… that is why the Police have troubles with Besigye! Peace.

Reference:

Waswa, Sam – ‘Police on Why Besigye Cannot Leave His Kasangati Home’ (05.10.2016) link:

Kenya: Press Statement on the “Chickengate” Investigations (05.10.2016)

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South Sudan Crisis: Nespresso suspends operation; Machar is losing friends and allies; Updates from Yei and Unity!

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Just as the news of Nespresso suspending their imports of coffee from South Sudan, the South Sudanese Authorities are saying that they need to cut in the Health Care budget for next year. This is happening as the possibility for a peace between the fractions becomes smaller and the window is closing. Because the SPLM/A-IO of Dr. Riek Machar has fewer friends as the Ethiopian, Democratic Republic of Congo, Kenya or Uganda does not want to host the Rebels.

While the news  awhile back we’re that Dr. Riek Machar and his close allies we’re taken through DRC and on the Congolese soil with help of MONUSCO and the United Nation Peacekeepers sent him after fleeing Juba. This happens as the violence between SPLM/A-IO and SPLM/A, the Government party that are led by President Salva Mayardit Kiir and new First Vice-President Gen. Taban Deng Gai who has been part of SPLM/A-IO and we’re even a close ally of Dr. Lam Akol back-in-the-day when there where rifts between Gen. John Garang and Dr. Riek Machar.

Machar shows the history of rebellion towards the leadership around him, as he wants to be leader of all leaders and run it; something he seems to think he is entitled too. That is my opinion, when he even tried in early 1990s to overcome the liberation hero Dr. John Garang de Maribor. That President Kiir has taken oven for and got now the same accusation from the SPLM/A-IO as Garang got from SPLM-Nasir in the 1990s; strange how the past gets recycled in the present?

Just reported from the DRC:

Riek Machar’s militia are not welcome in northern Democratic Republic of Congo where locals say they are a security risk. DRC’s government, after protests from the locals, has asked the UN mission in the country, MONUSCO, to move the 750 militiamen. The Congolese government has asked the UN to remove them by October the 10th. Last week, local officials wrote to the government in the capital Kinshasa warning that the South Sudanese militia are a security risk in the area” (The National Courier, 04.10.2016).

As written the Congolese Authorities are not welcoming Machar’s rebels and for certain the MONUSCO, blue helmets are moving rebels from one area to the next as they are seen as threat in DRC, but okay to have in Khartoum. Even as Sudan has said they won’t really cater to him either they are still letting him be there after the MONUSCO left him there earlier in the is calendar year.

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On the Coffee Export:

“The Governor of Yei River State David Lokonga Moses says his state has lost investment and development opportunities due to the presence of insecurity in the state” (…) ““The prevailing insecurity in the state has hampered the use of these tractors and other plans for this sector. In a related development, the USAID has earmarked a grant of 3.5 million US dollars through the National Government to promote coffee growing in Yei River state. Only that we have been interrupted by this insecurity. All this efforts will strengthen the economy of the state. We are really by far being eyed by the international community to be given support for development.” (…) “Notice of Correction: An earlier version of this story emphasized that USAID had given millions for coffee development in Yei River State. This was based on a remark by Governor Lokonga taken out of context. He was in fact stressing that insecurity in the state has resulted in a loss of investment and development opportunities” (Radio Tamazuj, 03.10.2016).

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As the Nespresso suspends the operations in South Sudan, the USAID coffee growing project have been also interrupted by the insecurity of the state. Yei River and Yei have been in the cross-fire and surely makes farming impossible.

More on trouble in Yei: 

Jacob Aligo Lo-Lado, MP and Minister of Local Government in Yei River State has admitted that roughly 100,000 people trapped in the town amid increasing insecurity in the area as reported by the UN refugee agency last week” (…) “Aligo told Radio Tamazuj yesterday that Yei residents fled their homes following fighting in July, but they returned after the security situation was restored in the area. He pointed out that the locals are currently experiencing shortages of food and basic services due to the closure of roads” (Radio Tamazuj, 04.10.2016).

Here you see the more troubles in Yei, as there been reported that SPLM/A-IO had taken over the area and the fighting between SPLA and rebels have continued since July as the reports we’re then that SPLM/A-IO closed the roads towards Uganda. Because the Machar rebels fears the support of UPDF that has helped President Kiir in the past.

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Shooting Police Officers:

“Police spokesman Justin Daniel said that a group of attackers assaulted the police post at Nyelo Sunday before fleeing the scene of attack to Nelo village, where they purportedly shot dead a village chief. “The general security situation is under control except some isolated incidents by some people trying to cause havoc and to cause panic to the citizens but our police personnel are there. The incident of Nyelo is being investigated and as police, we condemn and treat it as a barbaric and terrorists act. There is no justifiable cause to kill some people trying to secure the safety of the road for travelers. We are also told that the same attackers after fleeing the scene of the crime went and killed an innocent village chief at Nelo”, police spokesman said in a statement broadcast also by South Sudan broadcasting corporation” (Radio Tamazuj, 04.10.2016).

This is incidents happening on the road between Juba – Nimule road, as the village is on road. Therefore the Police Command and Police Post is on an important roads as it led to the capital and the proof of occurring violence as a reaction to another act that involve the Village chief of Nelo killed. This might be a “small act”, but significant in the matter of who it concerns and the extent of killings happening.

In Morobo and Kaya:

“The SPLA says Morobo and Kaya have never been under the control of the militias as they have claimed for the last few days. The SPLA spokesman says the militias have been celebrating fictitious victory won from Nairobi hotels on the social media” (The National Courier, 04.10.2016).

This is the official reports and what is the honest truth is hard to say, but if there we’re battles its not likely that the SPLA will concede defeat, either does the SPLM/A-IO as they want to be ahead of SPLA/M in the matter of territory. Even as they need shuttles to get out of foreign territory as they don’t want their 750 rifles and personnel away from Congolese Soil. Together with the establishment of the rebel outfit of National Democratic Movement of Dr. Lam Akol who has been a sworn ally of Dr. Riek Machar; proves that the rebels and opposition is not as solid following the instruction and leadership of Machar as they once did.

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Killings in Unity:

“James Yuaj, spokesperson for the SPLM-IO in South Sudan’s Unity State on Monday accused government forces of opening fire on civilians killing three people and injuring four other including two women. Speaking to Radio Tamazuj, Yuaj accused government forces of being behind the attack in Adok area” (Radio Tamazuj, 04.10.2016).

So here we can also see that there been killings in another state, this in Unity as the proves of the state of affairs and fragile instability of the government versus the rebels who know has a plan to use arms to move and get rid of the SPLM/A as they want to install the SPLM/A-IO, but they have also the NDM who has their powers. Together with the rebels in Darfur who are the SPLM-N who also fights and could also prove their flexibility and pour into the states on the border.

This here crisis is far from over, the South Sudan leaders are more used to their guns and ammunition instead of dialogue; it is ironic that Dr. Lam Akol that are grabbing guns and arming people as he was blaming Dr. John Garang de Maribor for his wishes to use military option over dialogue to deal with the SPLM/A-Nasir of the 1990s. People tend to forget that part too. But that is two decades ago and think Dr. Lam Akol forgotten himself and how he defended dialogue during that time; now he grabs the guns as well!

Well, this is enough for now, depressing enough. Peace.

The Trump Tower: Some of Trump’s ethical conundrums concerning tax on his “flag-ship” enterprise!

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This is just another day, another dig into the mess of a business-man, the so-called billionaire Donald J. Trump and his Trump Organization; with the dozens of companies and unsettled taxes and regulated operations that can be scrutinized at any second and certainly most of his businesses has been taken to court of maladministration, tax-fraud, tax-aviation or not-paying dues to contractors or sub-contractors. There been reports 1000s of court cases under the Trump Organizations. What is so special with this here, is the way the stifling conduct been done the Trump Tower, the big skyscraper, the one thing he might eventually actually able to pull off. The one giant footprint on the Manhattan Skyline; the dream of the Bronx kid that came into life; and now is there!

It is this Tower and the shady tax story of his favourite building, the building that first carried his name and his so-called fortune. The glory of the Trumps and their enterprises as the epitome of the marble and gold; the one place that settled his rise to build a so-called empire! It is these stakes and these enormous steps to either brilliance or doom that the stories show from the Trump Tower.

Donald Trump, wouldn’t like this piece, not because their my words, but because the harshness of the old documents showing his ruthless misbehaving and not conducting fair business in the Trump Tower and towards the tax-man of his beloved New York. So here it is. Some might be forgotten, and some is still fresh. Here is my take!

About the Condominium:

The Trump-Equitable Fifth Avenue Company was formed, an equal partnership. Equitable put in the fee. Mr. Trump contributed the lease, two small units he acquired on East 57th Street, and the air rights to Tiffany’s on the corner, which he needed for a zoning change to build a high-rise apartment house. The Trump Organization is sales and managing agent for the building, and Mr. Trump was able to put the family name over the four-story portal in colossal bronze letters – and two giant bronze Ts in the atrium” (…) “Chase Manhattan financed his $24 million purchases of the various leases and rights, and the bank also formed a syndicate for the $150 million construction loan” (…) “Anticipated condominium revenues of $260 million (85 percent of the 263 apartments have been sold) have effectively paid off the construction loan, leaving Trump Tower unencumbered by mortgages. The partnership retains ownership of the retail space and the 13 floors of office space, not yet rented, that are sandwiched in between. This commercial portion of the building is projected to yield rentals of $28 million a year” (…) “Mr. Trump expected that Trump Tower would qualify for a residential tax abatement. But after construction started, the city denied the exemption, estimated to be worth $15 million to $20 million, claiming it was intended to encourage low- and middle-income housing – not the deluxe apartments of the Tower. The city is now appealing a State Supreme Court ruling in Mr. Trump’s favor last June” (Bender, 1983).

As we see the Trump big man dream of 1980s and the braggadocios building came to life on loans from Chase Manhattan and leases not even built on Trumps own monies. Therefore it was an investment in the trusts of others capital something he would continue to do as business in the future with less intelligence and less of ability to land with a great deal. As shown in other pieces. Still, the result of Trump Tower was not as anticipated as the value of the floors and the denied exemption makes it more expensive to rent and have stores in the Trump Tower. Something that was a loss for the millionaire… and also promises not kept to the state of New York.

Supreme Court on the Tax-Exemption on the Condominium:

“During the pendency of the court challenges to the City’s denial of section 421-a tax benefits, petitioner paid the City’s tax assessments under protest. After the Court of Appeals ruled petitioner was entitled to receive section 421-a tax benefits, the City gave petitioner a refund check in March 1986 and then issued a set of remission letters in April 1986 concerning the payment of certain refunds for the overpayment of tax assessments for the 1981-82 through 1983-84 tax years. The refund, however, was based on an application of section 421-a tax exemption benefits to that portion of Trump Tower which consisted of residential units calculated to be 64.6% of the building’s aggregate floor area. Petitioner maintains the correct amount of residential units is 66.31% of aggregate floor area” (…) “The City contends that the July 1988 remission letters properly distributed the 12% exemption for commercial space allowed by RPTL 421-a among all units in the building and properly charged the remaining liability for excess nonexempt commercial space to the commercial unit alone” (…) “Judge Simons concluded that the Legislature intended all properties, regardless of the type of ownership, to receive the benefit of the exemption and that “the exemption is to be applied to the building as a whole, to the extent permitted, and not to parts of it” (supra, at 345). Moreover, the court went on to state that: “In the case of condominium units that means that the mini tax assessment must be applied to the entire building and the assessment then apportioned on a unit-by-unit basis as required by Real Property Law § 339-y. The failure to do so effectively excises from the statute buildings held in condominium ownership and applies the exemption differently depending on the type of ownership” (supra, at 345)” (…) “Order and judgment (one paper), Supreme Court, New York County, entered on September 7, 1989, unanimously modified, on the law, to the extent of striking the City’s computation concerning the floor ratio between the residential and commercial condominium units of Trump Tower, recalculating the proportionate tax benefits and tax liabilities among the units, declaring petitioner entitled to interest on additional refunds computed from the date of payment and modifying the last decretal paragraph to direct the payment of interest on said additional refunds pursuant to General Municipal Law § 3-a, and otherwise affirmed, without costs and without disbursements” (Supreme Court of New York, 1990).

As of the court date years on end as the proof of it after and the show of dubious numbers and changing facts from the Trump Organization towards the tax-man. This is proven with the different numbers for the 421- in building towards the business end of the operation in the towers, that we’re differing from the applications that we’re accepted by the great state of New York. So the Trump violated the trust between him as a builder and the state that let him build and gave him favourable tax to get investors investing in his project and skyscraper. This proves the malicious and dubious businessman in the making, when he does it even on his flag-ship enterprise in Manhattan. Take a look at the continuation of it!

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Tax Case on the Condominium 1996:

Equitable Life Assurance Society of the United States(“Equitable”) and Petitioner (collectively referred to as the “Venturers”) entered in a joint venture agreement, dated January30, 1980 (the “Venture Agreement”) to form the Trump-Equitable Fifth Avenue Company (the “Venture”) to develop a luxury mixed-use building located at 721-725 Fifth Avenue (“Trump Tower”). The purpose of the Venture was to: (a) acquire title to certain land and existing buildings; (b) demolish the existing buildings; (c) construct a new building — Trump Tower — to be owned in condominium form; (d) sell residential condominium units therein; and (e) lease office retail and other commercial condominium space therein. Venture Agreement section” (…) “The only witness to testify on behalf of Petitioner as to what his activities were with respect to the Venture was his representative and accountant, Jack Mitnick” (…) “Mr. Mitnick testified that Petitioner was compensated for the following services that he performed for the Venture: (a) the demolition of the preexisting buildings; (b) the construction of Trump Tower; (c) the promotion and sale of condominium units in Trump Tower; (d) the rental of commercial condominium units; and(e) the selling of residential condominium units” (…) “Mr. Mitnick also testified that the “Trump Corporation” performed sales and advertising services under the Development, Sales and Leasing Agreement and reported the resulting income in a City General Corporation Tax return according to Mr. Mitnick’s testimony, the Venture paid a “development fee” directly to Petitioner in his individual capacity which Petitioner reported as “[personal] income” and which was[also] “reported [on the Venture’s UBT return] as compensation of a partner. . .;” i.e., which was not deducted on the Venture’s UBT return” (…) “On March 31, 1984, nineteen days after he exercised the Option, Petitioner sold the Condominium for $3,000,000” (…) “On the Schedule D attached to Petitioner’s Federal income tax return for the Tax Year, Petitioner reported a $2,365,352 capital gain from the sale of the Condominium (the “Gain”). The sale of the Condominium was the only direct sale of real property during the Tax Year by Petitioner that was evinced in the record. The record indicates that much of Petitioner’s other real estate activities were conducted through related entities, particularly corporations” (…) “Petitioner filed a City UBT return for the Tax Year (the “Return”) in which he reported his principal business activity as “consulting.” The Return reported negative taxable business income of $619,227. Schedule C of Petitioner’s Federal personal income tax return (Form 1040), upon which the Return was based, indicates that Petitioner had total deductions of $626,264, even though he had no income or receipts from his business activity” (…) “By transmittal letter dated July 24, 1992 (which mistakenly lists the year as 1994 instead of 1992), another of the Commissioner’s representatives produced the original Return –which did not have an Extension Request attached to it – and requested that it be entered into evidence. No request was ever made to extend the June 18, 1992 date set at the hearing for the production of the original Return and the close of the record” (…) “CONCLUSIONS OF LAW:” (…) “However, the problem at issue is not one of double taxation, but of no taxation. Because the Condominium was sold by Petitioner and not the Venture, the Gain cannot be taxed to the Venture. Therefore, if Petitioner is correct that he is not taxable on the Gain, the income realized from highly appreciated inventory property extracted from the Venture only days before its sale would escape all taxation under the UBT” (…) “Petitioner admits, on of his supplemental reply brief, that: “Trump provided management services to the Partnership [Venture].” Petitioner’s accountant testified that Petitioner received payments for development services provided to the Venture which he took into income for personal income tax purposes. By virtue of the pro-vision of such services to the Venture, Petitioner is found to have been engaged in a taxable trade or business for UBT purposes” (…) “Respondent asserts that because Petitioner and Equitable each owned the same interest in the partnership [the Venture]” and Petitioner received more Options than Equitable, the Option was granted in exchange for services. This conclusion is questionable. The provision in the Venture Agreement which indicates that there was to be an equal profit split, expressly states that it is subject to other provisions in that agreement — such as the provision granting the Excess “Options. Thus, effectively, the Venture Agreement grants each Venturer a 50% profits interest in those Condominiums not subject to the Options and a 100% profits interest in those Condominiums as to which that Venturer held an option” (…) “Respondent submitted the original Return after the date set in the stipulation without any explanation why the stipulation – the agreement his representative entered into — should not been forced. Parties must be bound by the representations that they make to this forum absent a compelling reason to the contrary. As no such compelling reason was provided, the stipulation will been forced. Respondent is therefore deemed to have waived the late filing penalty” (…) “As Petitioner held and exercised the Option as part of his unincorporated trade or business, the Gain was connected with that trade or business and is subject to the UBT” (…) “The Petition of Donald Trump is denied except to the extent that the deficiency asserted in the Notice of Determination, dated November 18, 1987, is to be modified to eliminate the 25% late filing penalty” (New York Tax Appeal Court, 1996).

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Just as a decade has gone, but the Donald Trump didn’t give and wouldn’t give into the tax-man of New York State, even after the Supreme Court of New York judged in favor of a new tax-plan for the Trump Tower. This proves how he used business associates and fellow businessman to vouch for him and not take the blame as the Mr. Mitnick we’re in charge of selling a condominium at the Tower, but didn’t register the sale as the Corporation was not yet filed in the State. Therefore tried to circumvent the laws and get away with paying tax for the gain and the profits stemmed from sales of property at the Tower. This is another case than the initial Tax-Exemption that Trump tried to keep, even as he didn’t keep his promise of space of commercial versus housing in the tower and therefore we’re viable for more tax on the property.

The same kind of trick done here just years as he tries to avoid paying tax on selling property in the tower and also filling the form late therefore getting a 25% tax penalty on the case. That he also wanted to be axed. Also the use of different years in the filing trying to cover up the bogus attempt of not paying tax on the $3m sale of property where he earned about $2.4m directly as the deductions we’re about $600k shows the level of carelessness and trying to directly avoid any sort taxation by state. Trump Organization we’re interested in the sale, but not properly filling in the taxes or the previous owner as the direct sale without a entity we’re used to seal the away instead of getting direct tax of profits.

The Copy of the 1994 tried to fill in the profits, instead of 1992, therefore the New York Commissionaire had during trial come with an original Tax Return to show the real numbers of the transaction and the gain of the individual Trump, who we’re to be taxed for the sale of the Condominium, which he diligently tried to not to pay.

That is enough for now. Has more on his taxes later. This man is just too dishonest. It is so strange that the GOP accepted the man as their candidate for President. Peace.  

Reference:

Bender, Marylin – ‘THE EMPIRE AND EGO OF DONALD TRUMP’ (07.08.1983) link: http://www.nytimes.com/1983/08/07/business/the-empire-and-ego-of-donald-trump.html?pagewanted=all

New York City Tax Appeals Tribunal – ‘DONALD TRUMP – DETERMINATION – 10/11/96In the Matter for DONALD TRUMPTAT(H) 93-216(UB) – DETERMINATION’ (10.11.1996).

Supreme Court of New York – ‘TRUMP-EQUITABLE FIFTH AVENUE COMPANY, RESPONDENT-APPELLANT, v. CITY OF NEW YORK ET AL., APPELLANTS-RESPONDENTS’ (26.07.1990) link: http://ny.findacase.com/research/wfrmDocViewer.aspx/xq/fac.19900726_0049356.NY.htm/qx

Le Gouvernement du Burundi a rencontré une délégation de l’Union Européenne dans le cadre de l’Article 96 de l’Accord de Cotonou (03.10.2016)

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Zimbabwe police fire tear gas at anti-Mugabe protesters (Youtube-Clip)

My take on it: To the man who threw the tear-gas back at the Police, your a hero and wish there more men like you out there! The Zimbabwe National Police Force continues with the Police Brutality towards fellow citizens when they demonstrats. Peace.

Kenya: “Re: Libelous Tweet Concerning H.E. William Ruto” (30.09.2016)

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Och-Ziff Hedge Fund Settles FCPA Charges (29.09.2016)

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Washington D.C., Sept. 29, 2016 — The Securities and Exchange Commission today announced that Och-Ziff Capital Management Group has agreed to pay nearly $200 million to the SEC to settle civil charges of violating the Foreign Corrupt Practices Act (FCPA).

Och-Ziff CEO Daniel S. Och agreed to pay nearly $2.2 million to settle SEC charges that he caused certain violations along with CFO Joel M. Frank, who also agreed to settle the charges.
The SEC detected the misconduct while proactively scrutinizing the way that financial services firms were obtaining investments from sovereign wealth funds overseas.  The SEC’s subsequent investigation of Och-Ziff found that the fund used intermediaries, agents, and business partners to pay bribes to high-level government officials in Africa.  According to the SEC’s order, the illicit payments induced the Libyan Investment Authority sovereign wealth fund to invest in Och-Ziff managed funds.  Other bribes were paid to secure mining rights and corruptly influence government officials in Libya, Chad, Niger, Guinea, and the Democratic Republic of the Congo.
The SEC’s order finds that Och-Ziff executives ignored red flags and corruption risks and permitted illicit transactions to proceed.
“Och-Ziff engaged in complicated, far-reaching schemes to get special access and secure significant deals and profits through corruption,” said Andrew J. Ceresney, Director of the SEC Enforcement Division. “Senior executives cannot turn a blind eye to the acts of their employees or agents when they became aware of suspicious transactions with high-risk partners in foreign countries.”
The SEC’s order finds that Och-Ziff’s books and records did not accurately describe the true purposes for which managed investor funds were used, and the company did not have adequate internal controls to detect or prevent the bribes.
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 “Och-Ziff falsely recorded the bribe payments and failed to devise and maintain proper internal controls,” said Kara Brockmeyer, Chief of the SEC Enforcement Division’s FCPA Unit.  “Firms will be held accountable for their misconduct no matter how they might structure complex transactions or attempt to insulate themselves from the conduct of their employees or agents.”
The SEC’s order finds Och-Ziff violated the anti-bribery, books and records, and internal controls provisions of the Securities Exchange Act of 1934, and affiliated investment adviser OZ Management violated the anti-fraud provisions of the Investment Advisers Act of 1940.  Och-Ziff and OZ Management agreed to pay $173,186,178 in disgorgement plus $25,858,989 in interest for a total of $199,045,167.  The order finds that Och caused violations in two Och-Ziff transactions in the Democratic Republic of the Congo, and he agreed to pay $1.9 million in disgorgement and $273,718 in interest to settle the charges.  The order finds that Frank caused violations in Och-Ziff transactions in Libya and the Democratic Republic of the Congo, and a penalty will be assessed against him at a future date.  Och and Frank consented to the SEC’s order without admitting or denying the findings.
As part of its settlement agreement with the SEC, Och-Ziff acknowledged that it expected to enter into a deferred prosecution agreement with the Justice Department in a parallel criminal proceeding, and its subsidiary OZ Africa Management GP LLC agreed to enter into a plea agreement.  Och-Ziff is expected to pay a criminal penalty of $213 million.
The SEC’s investigation is continuing.  It is being conducted by Neil Smith and Paul Block of the FCPA Unit and Rory Alex, 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.