Ex-Glencore trader paid bribes for Nigerian oil contracts – Report - Punch Newspapers

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Ex-Glencore trader paid bribes for Nigerian oil contracts – Report - Punch Newspapers
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A former Glencore Plc trader who said he was part of a bribery scheme to win oil contracts from Nigeria transferred $300,000 of company funds in 2014 to an intermediary who had requested the cash to benefit a senior government official in the nation’s elections, US court filings show.

Prosecutors described in court filings how Stimler and others paid millions of dollars in bribes between 2007 and 2018 in several countries, including to officials at Nigerian National Petroleum Corporation, on behalf of Glencore. The payments were to be made ‘in connection with a then-upcoming political election’ in the country, the prosecutors said in summarising the co-conspirator’s email. The court filings didn’t explain how the money was to be used in the election or if it was spent for that purpose.

Stimler then followed up with an email to two co-conspirators saying that managers at the Glencore subsidiary had authorised the payment and asked them to ‘please please make sure on your side, NNPC perform[s]’, court filings showed.

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