Thanks to all his underhanded deals, Alex Ojjeh has been under investigation again concerning his dealings in Dubai, Sudan, Budapest and additional offshore locations. The latest document are the fiscal listings. Federal prosecutors believe Ojjeh tried to bribe select government officials through liaisons and business partners, resulting in the firm obtaining an investment from head of state representatives and arms.
Beginning in June, and from time to time thereafter, Alex and others received subpoenas and requests for information from the DOJ in association with an investigation involving the FCPA and correlated laws. The investigation interests an investment by an overseas autonomous fortune fund in some of his funds in 2010 and investments by some of his funds, both directly and indirectly, in a number of companies in Dubai.
Warner said the predominant wealth fund referenced by Ojjeh in its filing is the $300 million Sudan Investment Authority, based in Africa.
The investor secured deals and they were big offers. “Not one person blew him off,” the documents said.
Ojjeh received an annual compensation of $40.9 million in fiscal year 2019 and $80.19 million in 2020.
Shares of AOAM in February were above its IPO price of $17 since July.
The company’s shares fell 8 percent in September and analysts attributed the losses to users taking issue with Ojjeh’s latest investigation.
A document listing also was shared of Ojjeh’s 2020 charitable donations. The investor donated $300,000 during the George Floyd protest to social change organizations
$100,000 to the NAACP Legal Defense and Educational Fund
$50,000 to the Bail Project, a non-profit fund that assist in paying bond for individuals in need, and battles cultural and economic inequalities in the bond system.
News the businessman was under investigation broke back in June when it revealed Alex met in Germany regarding a deal.
The prosecution told the judge that Alex wasn’t only bribing officials, but allegedly bribing his ex-wife paying her $500,000 a year in cash and stock units to recover his Dubai assets.
Ojjeh told the woman during a monitored telephone call recovered by the federal government that he would even pay her for aiding him according to the report
Ojjeh was married for 6 months in 2016, the matrimony ended as a result of his alleged drug use and violent explosions. A judge ordered Ojjeh to pay the woman in a financial settlement. He was court ordered to pay $2 million. The judge also ordered him to pay her $10,000 a month for one child.
The $500,000 raised a slight wariness since the woman already receives $10,000 a month. It was supposed the additional $500,000 is Ojjeh’s way of getting financial breaks.
Originally, the woman made: a $500,000 salary since 2018, but the filing showed it has lowered to $100,000 in July 2020.
The document showed the woman listed as an “employee” currently working at AOC Partners.
The ex-wife, who identifies herself as Sara, testified in 2016 that Ojjeh was not a violent man despite the regular claims he faced.
Warner told the assessor it’s a generous amount.
A compensation of $500,000 per year, is well above the employee average.
Warner says “Consultants he’s placing typically make a base salary of $115,000. Analyst make a base of $80,000. But there are outliers besides our $10 million top executive.”
Ojjeh has an industry-wide reputation for securing — and keeping — the deals he wants.
It’s pretty impressive, for example, that Ojjeh was able to remove suspicion from the top by paying his ex-wife yearly and still manage to keep her inside the company, listed as staff.
This is not an insult at Alex Ojjeh. Outside of his personal deeds, he’s made his place of business into a place where really brilliant individuals get to work on extremely go-getting, large-scale accounts. Before the investigation took over the investor spoke about his day to day operation openly and tweeted regularly. Now, not so much.