Stimler admitted to conspiring to violate the Foreign Corrupt Practices Act (FCPA) and commit money laundering at a hearing in Manhattan Federal Court, New York.
A former United Kingdom-based trader for Glencore Plc, Anthony Stimler, has pleaded guilty to participating in an international scheme to bribe officials in Nigeria to win favourable contracts from the Nigerian National Petroleum Corporation.
Court papers identified seven alleged co-conspirators from several countries in the bribery scheme, including UK, Nigeria, Mexico, Spain and Israel in a deal that ran from 2007 to 2018.Prosecutors said millions of dollars in bribes were paid to officials in Nigeria, in exchange for NNPC awarding oil contracts and providing “more lucrative grades of oil on more favorable delivery terms.”
“Glencore has co-operated fully with the department of justice and other authorities in their investigations and continues to do so,” the statement read. In March, Emilio Jose Heredia Collado, former Glencore oil trader, pleaded guilty to manipulating an oil price benchmark, allowing the world’s largest commodities trader to profit from the price swings and enriching himself.
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