Glencore ordered to pay $700 million by US judge in bribery case. miningnews
Glencore units agreed to plead guilty to a list of charges ranging from bribery and corruption in South America and Africa, to price manipulation in US fuel-oil markets.
Prosecutors claimed Glencore paid more than $100 million in bribes to government officials in Brazil, Nigeria, the Democratic Republic of the Congo and Venezuela. They said Glencore made $315 million from the scheme. On Monday, Schofield ruled Glencore must pay $29.6 million to the founders of a company that provided healthcare services in 11 African countries, but was forced to shut down. Crusader Health claimed it was driven out of business after Glencore bribed a public official in the Democratic Republic of the Congo to throw out a lawsuit brought by Crusader against a Glencore subsidiary.
In September, the commodity firm was sentenced in Connecticut to pay $486 million in fines and forfeitures in a case in which Glencore admitted conspiring to manipulate oil-price benchmarks. In November, a London judge imposed a £276 million penalty for Glencore’s effort to bribe government officials for access to oil cargoes across Africa.
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