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Switzerland's top criminal court on Friday convicted a multinational company for the first time, ruling against commodities trader Trafigura in a case of bribery linked to lucrative oil industry ...
Trafigura is the third-largest physical commodities trading group in the world behind Vitol and Glencore. [62] Trafigura sources, stores, blends and transports raw materials including oil, refined petroleum products and non-ferrous metals, iron ore, and coal. [15] [63] It more recently added a third division, focused on gas, [7] power, and ...
For the first time in Switzerland, a multinational company faces a criminal trial Monday on charges of bribing a foreign public official, with alleged payments totaling about $5 million, to win ...
Commodities trader Trafigura [TRAFGF.UL] has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over accusations they ...
Some recent examples include Novartis paying $729 million to settle bribery cases in the United States and Greece in 2020 [19] or Zurich-based bank Julius Baer admitting to laundering over $36 million in bribes in a FIFA case in 2021. [20] In 2021, Credit Suisse was prosecuted in a Mozambique tuna bonds corruption scandal in the United States. [11]
By that time, Trafigura had brought in Sonangol as a 30% shareholder in Puma, and had also reduced its own stake to 49%. [6] Dauphin never took Trafigura public, believing private company status was the best model for a trading firm. [10] Trafigura's revenue rose tenfold in the period from 2005 to 2014 to reach $127 billion. [8]
Russia arrests another senior Defense Ministry official on bribery charges amid broader shake-up By The Associated Press A second senior Russian Defense Ministry official was arrested on bribery charges, officials said Tuesday, days after President Vladimir Putin replaced the defense minister in a Cabinet shake-up that fueled expectations of ...
The court also convicted three people — a former high-level Trafigura employee, a former official with Angolan state oil company Sonangol, and an ex-Trafigura employee who had acted as an intermediary — for their roles in the scheme. The heaviest sentence included 14 months behind bars. The verdict is not final and the defendants can appeal.