Glencore moved bribe cash in private jets to Nigeria, say UK prosecutors | TheCable

TOP STORY: Glencore moved bribe cash in private jets to Nigeria, say UK prosecutors | TheCable

UK’s serious fraud office made this known to the Southwark crown court on the first day of a sentencing hearing, according toThe SFO, on Wednesday, said the company paid more than $28 million in bribes to secure access to oil cargoes.Advertisement

Using sham payments to an agent, the company paid bribes to officials in Nigeria, Cameroon, Ivory Coast, Equatorial Guinea and Republic of Congo, it said.The US agency said Glencore paid more than $4 million to the agent, identified as NG1, that were disguised as service fees. She said Glencore has also admitted two charges of failing to prevent bribery over payments of approximately $1 million to agents in Equatorial Guinea and South Sudan, a portion of which Healey said was used to pay bribes to secure “valuable oil contracts”.

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