Glencore employees moved bribes cash by private jet, London court told – by Sam Tobin (Reuters – November 2, 2022)

LONDON, Nov 2 (Reuters) – Employees and agents of a British subsidiary of mining and trading group Glencore (GLEN.L) used private jets to transfer cash to pay bribes to oil officials in West Africa, prosecutors told a London court on Wednesday.

Glencore Energy UK Limited paid – or failed to prevent the payment of – millions of dollars in bribes to officials in five African countries, Britain’s Serious Fraud Office (SFO) told Southwark Crown Court on the first day of a sentencing hearing.

The UK subsidiary pleaded guilty in June to seven bribery offences. Glencore, a Swiss-based multinational, said in May it expected to pay up to $1.5 billion in relation to allegations of bribery and market manipulation in the United States, Brazil and Britain.

Prosecutor Alexandra Healy said the UK subsidiary paid bribes through an oil trader on the West Africa desk at its London office to officials at Cameroon’s national oil and gas company to secure “favourable treatment” for the sale of crude oil.

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