GLENCORE - FOREIGN BRIBERY AND MARKET MANIPULATION

Updated: Jul 6

Glencore pleaded guilty and agreed to pay over $1.1 billion to resolve the government’s investigations into violations of the Foreign Corrupt Practices Act (FCPA).



Glencore International A.G. (Glencore) and Glencore Ltd., both parts of a multinational commodity trading and mining firm headquartered in Switzerland, each pleaded guilty and agreed to pay over $1.1 billion to resolve the government’s investigations into violations of the Foreign Corrupt Practices Act (FCPA). The charges in the FCPA matter arise out of a decade-long scheme by Glencore and its subsidiaries to make and conceal corrupt payments and bribes through intermediaries for the benefit of foreign officials across multiple countries. Glencore Ltd. also admitted to engaging in a multi-year scheme to manipulate fuel oil prices in the United States.


Access the U.S. Department of Justice Press Release

#Glencore #corruption #bribery #crime #justice #oil #energy