A federal judge approved a restitution payment of more than $138 million to investors in a Congolese mine, bringing to a close a yearslong legal battle over their status as victims of a bribery scheme by hedge fund Sculptor Capital Management Inc.
Final approval for the restitution came Wednesday at a sentencing hearing presided over by District Judge Nicholas Garaufis. The payment is expected to be divided among more than 300 former investors.
The sentencing dispels a cloud of uncertainty that has hung over Sculptor’s 2016 settlement with the U.S. Justice Department over bribery schemes prosecutors said the fund orchestrated in Libya and the Democratic Republic of Congo.
The original full article can be found at wsj.com
(Photo: CLAUDIO PAPAPIETRO FOR THE WALL STREET JOURNAL)