Criminal charges unsealed against former American hedge fund firm executive

Financial Crimes FCPA DOJ SEC

The DOJ recently unsealed criminal charges against former hedge fund executive. This indictment follows a civil suit filed in January 2017 against him and others by the SEC regarding FCPA violations. In 2016, the DOJ and SEC also pursued a joint FCPA enforcement action against his former employer, alleging various bribes, self-dealing, and other malfeasance relating to the procurement of mineral, oil, and other natural resource contracts in African counties.

While the SEC’s initial January 2017 civil matter against him alleged FCPA violations, the recently announced criminal indictment does not directly charge him with violating the FCPA. He is alleged to have obstructed the DOJ and SEC’s investigations of his former company and made false statements, but also to have committed investment advisor fraud.