Och-Ziff may settle probe

Hedge fund giant OchZiff Capital Management is expected to have an overseas subsidiary enter a guilty plea to bribery charges as soon as Thursday, according to two people briefed on the matter.

Och-Ziff, a $39 billion hedge fund founded by Daniel Och, is also expected to enter into a deferred-prosecution agreement and pay a fine as it nears the end of a multiyear investigation, according to the people, who spoke on the condition of anonymity because they were not authorized to discuss the matter publicly.

The firm is being investigated by the Securities and Exchange Commission, as well the Justice Department, over whether it bribed officials in countries including Zimbabwe, Libya and Congo. It has set aside more than $400 million to pay penalties related to the investigations, the company disclosed this year.