Unsealed indictment alleges the company’s late founder, Claude Dauphin, masterminded the scheme
Trafigura paid nearly €5mn in bribes to an Angolan official through an intermediary who was dubbed “Mr Non-Compliant” by the commodity trader’s founder, Claude Dauphin, Swiss prosecutors have alleged. The Swiss indictment accuses Trafigura Beheer BV, the former parent company of Trafigura Group, of failing to prevent acts of serious corruption between 2009 and 2011. It also accuses Trafigura’s former chief operating officer, Mike Wainwright, who retired earlier this year, of bribery.
“TBBV’s anti-bribery and anti-corruption controls and compliance programme in place at the relevant time have been externally reviewed and assessed to have met legal requirements and international good practice standards applicable at that time,” the company said.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BDO ordered to pay $5mn to Jay-Z accountant in unfair dismissal caseDetails of the dispute have become public after the former firm partner petitioned to enforce an arbitration award
Read more »
Trafigura warns of up to $1.1bn loss over Mongolian oil scandalCommodity trader is taking action against a ‘small number’ of insiders involved in the alleged fraud
Read more »
Exxon Completes Sale of French Refinery to Trafigura-Led BuyerExxonMobil has sold its Fos-sur-Mer refinery in France to a consortium of trading firms, marking a continued trend of Big Oil divesting from downstream assets.
Read more »
More funds incoming for Minbos' Angolan phosphate playCompany looks to be making tangible progress
Read more »
Trafigura Facing $1.1B In Losses After Multi-Year FraudTrafigura is facing potential losses of up to $1.1 billion due to alleged fraud by employees tied to overdue debts in Mongolia.
Read more »
Manchester Airport issues message to passengers this weekend amid major changeCustomers with Austrian, Lufthansa, Lufthansa City and Swiss airlines are affected
Read more »