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Trafigura's strategy, the court heard, was to set up a complex payment web, through which an official with Angola's state oil company was paid almost $5m (£4.02m; €4.81) between 2009 and 2011.
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.
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 ...
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 ...
Switzerland has a leading, and sometimes dominant, position in a number of the economic sectors that not only play a key role in its economy but also expose it to relatively acute risks of foreign bribery. Some recent examples include Novartis paying $729 million to settle bribery cases in the United States and Greece in 2020 [19] or Zurich ...
Trafigura is the third-largest physical commodities trading group in the world behind Vitol and Glencore. [60] Trafigura sources, stores, blends and transports raw materials including oil, refined petroleum products and non-ferrous metals, iron ore, and coal. [15] [61] It more recently added a third division, focused on gas, [7] power, and ...
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]
Brazilian prosecutors on Friday charged two former executives of oil trader Trafigura over allegations of paying at least $1.5 million in bribes to employees of state-run oil company Petroleo ...