GLENCORE TO PAY ALMOST USD1.2 BILLION TO SETTLE BROBERY AND MARKET MANIPULATION CHARGES
May 26th, 2022
Switzerland-based multinational mining and energy group Glencore will pay almost USD1.2 billion in fines and penalties to the US, UK and Brazil for corrupt and dishonest trading, including bribing African officials and illicitly manipulating oil market prices.
With prosecutorial investigations continuing in the Netherlands and Switzerland, Glencore said yesterday (Tuesday 24/5) that it would set aside USD1.5 billion to settle all cases relating to this malpractice.
By far the largest penalties will be paid in the USA, where the Department of Justice (DoJ) said ...
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