Prosecutors said millions of dollars in bribes were paid to officials in Nigeria, in exchange for NNPC awarding oil contracts.
A former United Kingdom-based trader for Glencore Plc, Anthony Stimler, on Monday pleaded guilty over what prosecutors in the United States described as his role in a scheme to bribe officials in Nigeria in exchange for favourable contracts from theBloomberg reports that Mr Stimler admitted to conspiring to violate the Foreign Corrupt Practices Act and commit money laundering at a hearing in Manhattan federal court conducted by video.
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.” Reports said that court papers refer to seven alleged co-conspirators from several countries in the bribery scheme, which prosecutors said ran from 2007 to 2018.In a statement Monday, Glencore confirmed that Mr Stimler had been an employee. The Anglo-Swiss mining company and one of the world’s largest commodity traders also said it has cooperated with probes by the U.S. Department of Justice and other authorities.
Earlier in March, former Glencore oil trader Emilio Jose Heredia Collado pleaded guilty in San Francisco to manipulating a key oil price benchmark.
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