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Corruption: second criminal trial opens in September in London against 5 Glencore executives

22/08/2024
Source : ORISHAS-FINANCE
Categories: Compliance

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Après un premier verdict rendu en novembre 2022, un second procès Criminal proceedings opened on September 10, 2024 in London against 5 directors of Glencore who had admitted to having corrupted the Cameroonian leaders for get oil at a below-market price.

Glencore paid bribes according to the extract of the sentence handed down by the British justice in November 2022, through an employee of the Africa office of the 39; West, to officials of the national oil and gas company of Cameroon (SNH) and the national refinery (SONARA). The objective was to give the company favorable treatment with respect to the allocation and sale of crude oil and the purchase of petroleum products. The amounts deployed using this technique amounted to EUR 4,187,820. Also, an individual withdrew EUR 6,344,892 in cash from Glencore's cash register in Baar, Switzerland, claiming that it was office expenses or, on one occasion, entertainment. This money was taken to Nigeria and Cameroon and used to pay bribes to government officials

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