International
Glencore to Pay Millions Over Oil Bribes
UNITED KINGDOM – A United Kingdom court has ordered mining giant Glencore to pay more than £275 million for bribing officials in African countries to get access to oil.
UNITED KINGDOM – A United Kingdom court has ordered mining giant Glencore to pay more than £275 million for bribing officials in African countries to get access to oil.
Between 2011 and 2016 the company paid £23 million to crude oil firms in Nigeria, Cameroon and the Ivory Coast.
Prosecutors said the U.K. energy company got employees and agents to use private jets to transfer the money to pay bribes.
Glencore pleaded guilty to the corruption offense in June. Along with five bribery charges, the company admitted to failing to prevent agents from using bribes to secure oil contracts in equatorial Guinea and south Sudan.
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