Glencore Energy, a UK subsidiary of mining giant Glencore has been found guilty by Southwark Crown Court in Britain and ordered to pay £275m ($310m) for bribing officials in African countries of Nigeria, Cameroon, South Sudan and Ivory Coast inorder to secure oil deals and contracts.
Between 2011 and 2016, Glencore Energy bribed officials of Nigeria, Cameroon and Ivory Coast to the tune of $26m (£23m), a foreign exchange notes and cash that they fled in their private planes to those African countries.
According to Glencore, “the bribery charges stated that the firm’s aim was for officials to “perform their functions improperly, or reward them for so doing, by unduly favouring Glencore Energy UK in the allocation of crude oil cargoes, the dates crude oil would be lifted and the grades of crude oil allocated”.
BBC reported that “Glencore Energy UK pleaded guilty to seven corruption offences in June. It was ordered to pay a fine of £182.9m by Judge Peter Fraser at Southwark Crown Court, who also approved £93.5m to be confiscated from the company. Along with five charges of bribery, the subsidiary admitted charges of failing to prevent agents from using bribes to secure oil contracts in Equatorial Guinea and South Sudan.”
Although that Glencore Energy UK has pleaded guilty but neither them not Judge Fraser’s Southwark Crown Court have revealed the names of the officials of the African countries that received the bribe.
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