Africa: UK prosecutors order Glencore to pay $310 million over bribery charges
The Serious Fraud Office (SFO) in the UK charged Glencore Energy (UK) Ltd with seven offences following an investigation that began in December 2019. UK prosecutors laid out a web of bribery and corruption orchestrated by the London oil trading desk, including that Glencore officials delivered cash in private jets to officials across Africa. Glencore officials admitted to seven counts of bribery across countries including Nigeria and Cameroon, following the investigation. Prosecutors said the company paid more than $28 million in bribes to secure access to oil cargoes. On November 3rd, 2022, Glencore UK subsidiary was ordered to pay $310 million over bribery charges. This marks the first time a corporation has been convicted for paying bribes.