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Glencore admits bribery after SFO corruption probe

Financial Times LogoFinancial Times1 mo ago

Glencore admits bribery after SFO corruption probe

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It also admitted to paying €4.7mn in bribes between July 2011 and April 2016 to influence officials to favour the company in oil transactions in Ivory Coast.

One involved what prosecutors described as a decade-long bribery scheme while in the second, Glencore’s US commodities trading arm pleaded guilty to engaging in an eight-year scheme to manipulate US fuel oil price benchmarks.

Glencore said last month it has strengthened compliance procedures in recent years and that it is “not the company it was”.


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Article Details

Author / Journalist: Kate Beioley

Category: MarketsFinanceInvesting

Topics: Glencore Companies Corporate Officials Guilty Company Bribery Financial Pleaded Last Agency

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-21, 12:57:26

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 4 minutes read

Article Length: 696 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 2162

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About Financial Times

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 15 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 15h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

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Publisher ID: #3

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