- The Department of Justice has joined an expanding probe of banks, private-equity firms and hedge funds over the possible violation of bribery laws involving Libya's state investment fund prior to the rebellion against Muammar Gaddafi in 2011, the WSJ reports.
- The investigation originally focused on Goldman Sachs but now includes Credit Suisse (CS), JP Morgan (JPM), Société Générale (SCGLF), Blackstone (BX) and hedge-fund operator Och-Ziff Capital Management Group (OZM).
- A criminal probe is taking place in parallel to an SEC civil investigation.
- The Libyan Investment Authority invested sums of as much as $1B in funds operated by the firms being investigated, except Blackstone.
WSJ: Financial firms probed over possible bribery in Libya
Feb 3 2014, 03:44 ET