{"id":2011,"date":"2018-01-06T13:49:17","date_gmt":"2018-01-06T19:49:17","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=2011"},"modified":"2022-03-22T15:05:50","modified_gmt":"2022-03-22T20:05:50","slug":"securities-cases-petrobras-will-pay-2-95b-class-action-case-ex-och-ziff-hedge-fund-executive-indicted-investment-scam-former-banker-accused-defrauding-excel-bank-millions-o","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-petrobras-will-pay-2-95b-class-action-case-ex-och-ziff-hedge-fund-executive-indicted-investment-scam-former-banker-accused-defrauding-excel-bank-millions-o\/","title":{"rendered":"Securities Cases: Petrobras Will Pay $2.95B in Class Action Case, Ex-Och Ziff Hedge Fund Executive is Indicted Over Investment Scam, and Former Banker is Accused of Defrauding Excel Bank of Millions of Dollars"},"content":{"rendered":"<p>\t\t\t\t<strong>Ex-Och Ziff Hedge Fund Executive Indicted in NY Over Alleged Africa Investment Fraud<\/strong><br \/>\nA grand jury in Brooklyn, NY has indicted Michael Cohen, the ex-head of Och Ziff Capital Management\u2019s European operations on fraud, conspiracy, and other criminal charges.  According to prosecutors, Cohen hid a conflict of interest involving a mining company investment and defrauded an institutional client. <\/p>\n<p>The ex-Och Ziff hedge fund executive and his former company are accused of  making representations to a UK foundation that then agreed to invest up to $200M in a joint African venture in 2008. Cohen, who allegedly used the joint venture fund to purchase stock from someone who had borrowed money from him for a yacht, is accused of failing to disclose his own stake in the investment. Meantime, the person whom, <em>CNBC <\/em>reports, owed Cohen money, allegedly used funds from the stock purchase to pay him back $4M. <\/p>\n<p>Cohen is accused of trying to conceal the investment scam by generating a bogus letter and making statements to the SEC, IRS, and FBI that were \u201cmaterially false.\u201d  <\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-cases-petrobras-will-pay-2-95b-class-action-case-ex-och-ziff-hedge-fund-executive-indicted-investment-scam-former-banker-accused-defrauding-excel-bank-millions-o\/#more-2011\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ex-Och Ziff Hedge Fund Executive Indicted in NY Over Alleged Africa Investment Fraud A grand jury in Brooklyn, NY has indicted Michael Cohen, the ex-head of Och Ziff Capital Management\u2019s European operations on fraud, conspiracy, and other criminal charges. According to prosecutors, Cohen hid a conflict of interest involving a mining company investment and defrauded [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3804,3760,3761],"tags":[],"class_list":["post-2011","post","type-post","status-publish","format-standard","hentry","category-class-action-lawsuits","category-sec-enforcement","category-securities-and-exchange-commis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Cases: Petrobras Will Pay $2.95B in Class Action Case, Ex-Och Ziff Hedge Fund Executive is Indicted Over Investment Scam, and Former Banker is Accused of Defrauding Excel Bank of Millions of Dollars &#8212; Investor Lawyers Blog &#8212; January 6, 2018<\/title>\n<meta name=\"description\" content=\"Ex-Och Ziff Hedge Fund Executive Indicted in NY Over Alleged Africa Investment Fraud A grand jury in Brooklyn, NY has indicted Michael Cohen, the ex-head &#8212; January 6, 2018\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-cases-petrobras-will-pay-2-95b-class-action-case-ex-och-ziff-hedge-fund-executive-indicted-investment-scam-former-banker-accused-defrauding-excel-bank-millions-o\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Cases: Petrobras Will Pay $2.95B in Class Action Case, Ex-Och Ziff Hedge Fund Executive is Indicted Over Investment Scam, and Former Banker is Accused of Defrauding Excel Bank of Millions of Dollars &#8212; Investor Lawyers Blog &#8212; January 6, 2018\" \/>\n<meta name=\"twitter:description\" content=\"Ex-Och Ziff Hedge Fund Executive Indicted in NY Over Alleged Africa Investment Fraud A grand jury in Brooklyn, NY has indicted Michael Cohen, the ex-head &#8212; January 6, 2018\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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Investor Lawyers Blog &#8212; January 6, 2018","twitter_description":"Ex-Och Ziff Hedge Fund Executive Indicted in NY Over Alleged Africa Investment Fraud A grand jury in Brooklyn, NY has indicted Michael Cohen, the ex-head &#8212; January 6, 2018","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-petrobras-will-pay-2-95b-class-action-case-ex-och-ziff-hedge-fund-executive-indicted-investment-scam-former-banker-accused-defrauding-excel-bank-millions-o\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-petrobras-will-pay-2-95b-class-action-case-ex-och-ziff-hedge-fund-executive-indicted-investment-scam-former-banker-accused-defrauding-excel-bank-millions-o\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Securities Cases: Petrobras Will Pay $2.95B in Class Action Case, Ex-Och Ziff Hedge Fund Executive is Indicted Over Investment Scam, and Former Banker is Accused of Defrauding Excel Bank of Millions of Dollars","datePublished":"2018-01-06T19:49:17+00:00","dateModified":"2022-03-22T20:05:50+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-petrobras-will-pay-2-95b-class-action-case-ex-och-ziff-hedge-fund-executive-indicted-investment-scam-former-banker-accused-defrauding-excel-bank-millions-o\/"},"wordCount":581,"articleSection":["Class Action Lawsuits","SEC Enforcement","Securities and Exchange Commission"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-petrobras-will-pay-2-95b-class-action-case-ex-och-ziff-hedge-fund-executive-indicted-investment-scam-former-banker-accused-defrauding-excel-bank-millions-o\/","url":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-petrobras-will-pay-2-95b-class-action-case-ex-och-ziff-hedge-fund-executive-indicted-investment-scam-former-banker-accused-defrauding-excel-bank-millions-o\/","name":"Securities Cases: Petrobras Will Pay $2.95B in Class Action Case, Ex-Och Ziff Hedge Fund Executive is Indicted Over Investment Scam, and Former Banker is Accused of Defrauding Excel Bank of Millions of Dollars &#8212; 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