Mon, December 2, 2024

Swiss corruption case involving Trafigura and former executive opens

The content at the provided URL discusses a significant corruption case in Switzerland involving Trafigura, a global commodities trader, and one of its former executives, Mike Wainwright. The trial, which opened on December 2, 2024, in the Swiss city of Bellinzona, centers on allegations of bribery related to oil trading in Angola. Swiss prosecutors are seeking a 30-month suspended sentence for Wainwright, who is accused of orchestrating a scheme where Trafigura paid over $5 million in bribes to secure oil contracts. The case also involves Trafigura itself, which has admitted to the bribery but claims it was unaware of the actions of its employees. The trial is part of a broader crackdown on corruption in the commodities trading sector, highlighting issues of corporate governance and ethical business practices. The outcome of this case could have implications for how companies manage compliance and anti-corruption measures globally.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/energy/swiss-corruption-case-involving-trafigura-former-executive-opens-2024-12-02/ ]


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