<i>WSJ</i>: Financial firms probed over possible bribery in Libya

|By:, SA News Editor

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.