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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.
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 ...
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.
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 ...
Marc Rich (born Marcell David Reich; December 18, 1934 – June 26, 2013) was an international commodities trader, financier, and businessman.He founded the commodities company Glencore, and was later indicted in the United States on federal charges of tax evasion, wire fraud, racketeering, and making oil deals with Iran during the Iran hostage crisis.
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 ...
These charges accused Glencore of paying over US$53 million of bribes between 2011 and 2016 to officials in Africa to "secure access to oil and make illicit profit". [ 129 ] [ 130 ] On May 24, Glencore Energy UK Limited indicated in court that it would plead guilty to five counts of bribery and two counts of failure to prevent bribery under the ...
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 ...