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- Trafigura Scandal, V. Non-Compliant” by the company’s SWITZERLAND’s federal court has convicted commodities trading giant Trafigura of bribery charges in a landmark first. The company was ordered to pay a fine and $145. ) Six years ago, Brazilian prosecutors charged two former Trafigura executives for allegedly pay Trafigura will make provisions of $1. Trafigura Beheer B. A long-awaited trial has kicked off in London over Trafigura’s claims it was defrauded out of some US$600mn through a nickel trading scheme “masterminded” by Indian businessman Prateek Gupta. LONDON – Trafigura Group is preparing to take a US$1. By 2006 Pemex had run out of storage capacity and agreed to sell the coker gasoline to Trafigura. However, Trafigura allegedly rewarded the key players in its Angolan network very handsomely, and sometimes even Trafigura’s $600 million fraud case against Indian trader Prateek Gupta opens in London, centred on fake nickel cargoes and disputed trading agreements. 1 billion loss due to alleged fraud connected to its Mongolian oil operations. 1 billion (S$1. The Guardian newspaper has reported that the minister is accused A unit of global commodities trader Trafigura has agreed to pay a $55 million civil fine to settle U. 1 billion after an internal review discovered fraud by individuals in its Mongolian petroleum products supply business, the commodity trader said on Wednesday. This is a significant case against corporate corruption in Switzerland. Another year, another nickel scandal as the devil's metal lives up to its reputation. Global commodity trader Trafigura expects to set aside a $1. Trafigura, charged through its Dutch holding company Trafigura Beheer BV, was charged with failing to prevent alleged unlawful payments via a third party to a former employee of Sonangol, the Angolan state energy company. Trafigura alleges that 43-year-old Gupta was the “controlling mind” behind an array of linked companies including TMT Metals, UIL Malaysia and UIL Singapore, all of which are defendants in the Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. 1 billion loss in a suspected multi-year fraud in Mongolia was a “humbling experience,” the trading giant’s new chief said in his first public comments on the scandal. The firm must pay $148 million in fines, with Wainwright sentenced to 32 months in prison. Commodity trader and shipowner Trafigura has been named in past scandals in Angola, Ivory Coast, Brazil, Myanmar and Mexico, and one of its employees Trafigura Beheer BV, the former parent company of the Trafigura Group, has resolved previously disclosed civil cases initiated by the Brazilian Office of the Federal Comptroller General, the Brazilian Office of the Federal Attorney General, and the Brazilian Federal Prosecutor’s Office Ultimately the court found Trafigura guilty and sentenced the firm to pay about $150 million in fines and compensation - nullifying its profit from the contracts. Jan 31, 2025 · Switzerland's top criminal court convicted trading house Trafigura and a former senior executive of corruption on Friday in an unprecedented case over payments made to an Angolan official in Nov 17, 2025 · On the first day of a five-week trial in London’s High Court, Trafigura admitted it “overpaid for rubbish” after purported nickel shipments it purchased from Gupta were found to contain various Jan 31, 2025 · Swiss commodities trader Trafigura fined CHF3 million for Angolan bribery, while three defendants are handed prison sentences. Trafigura has agreed to pay a $55mn fine in a settlement with US regulators over charges of fraud and Lawyers for Indian businessman Prateek Gupta and his firms will file their defence in a legal case with commodity trader Trafigura by the court deadline on July 12, Gupta's spokesman said on Friday. Jan 31, 2025 · Switzerland's highest court has convicted the commodities trading giant Trafigura and one of its senior executives of bribery over payments made by the firm to gain access to Angola's lucrative Mar 28, 2024 · “For more than a decade, Trafigura bribed Brazilian officials to illegally obtain business and reap over $61 million in profits,” said Principal Deputy Assistant Attorney General Nicole M. S. The Indonesian Attorney General’s This is the first time Trafigura has faced criminal charges since the toxic waste scandal unfolded in Ivory Coast’s commercial capital, Abidjan, in 2006. DOJ into conduct of former employees or agents in Brazil, that took place approximately 10 or more years ago. The Swiss trial of Trafigura Group and its former Chief Operating Officer Mike Wainwright on corruption charges has been scheduled for December — in a case that’s likely to shine a renewed Trafigura was accused by Swiss prosecutors of channeling bribes to an Angolan official through a network of former employees, including one nicknamed “Mr. (Bloomberg) -- Trafigura was accused by Swiss prosecutors of channeling bribes to an Angolan official through a network of former employees, including one nicknamed “Mr. The case is part of Brazil's biggest corruption case, the car wash. Trafigura’s lawyers said the WhatsApp messages and emails do not contain “any statement clearly indicating complicity in the fraud on the part of any Trafigura employee” and dismissed Gupta GENEVA :Trafigura and three other defendants including a former board member went on trial over the alleged payment of bribes to an Angolan oil official for oil deals in a landmark case that Trafigura and its former chief operating officer were convicted by a Swiss court on bribery charges, the first time a senior executive at a major commodity trading house has been found guilty of Trafigura Pleads Guilty and Will Pay $126M to Settle Brazilian Bribery Case Trafigura pleaded guilty to end an old investigation into alleged bribes in Brazil Ten years ago, the cargo ship the Probo Koala began a four month journey that ended in toxic waste being dumped illegally in Côte d'Ivoire and more than 100,000 people needing medical assistance. A Dutch court finds multinational firm Trafigura guilty of illegally exporting toxic waste from the Dutch port of Amsterdam to Ivory Coast. 1 billion hit after discovering what it suspects was fraud involving employees in its Mongolian oil business. The Guardian newspaper has reported that the minister is accused This week will see the trading house attempting to persuade the Swiss Federal Criminal Court that the schemes put in place to funnel funds to an Angolan official 15 years ago were the work of former employees, acting in the shadow of the late founder Claude Dauphin, now deceased. Trafigura Beheer, the multinational commodities trading company which is at the centre of a scandal in Jamaica, is embroiled in an investigation into a Zambian government minister. Trafigura has commenced legal proceedings against Mr Gupta and the companies involved. (Company rivals Glencore and Vitol already admitted to bribery in the scandal to settle b oader corruption probes. 6 million in a Nov 17, 2025 · Proceedings kicked off at the High Court in London on Monday in the trial involving Trafigura — one of the world’s top commodities suppliers — and Indian businessman Prateek Gupta. . and chartered by Trafigura Switzerland's top criminal court convicted trading house Trafigura and a former senior executive of corruption on Friday in an unprecedented case over payments made to an Angolan official in Trafigura chief executive Richard Holtum says the commodity trading giant has undertaken a “significant governance and controls project” after suffering a US$1bn loss in a fraud scandal within its Mongolian oil business. ) Six years ago, Brazilian prosecutors charged two former Trafigura executives for allegedly pay The scandal has rocked the commodities trading industry and raised questions over the due diligence procedures in place at Trafigura, which have since been revamped. However, Trafigura allegedly rewarded the key players in its Angolan network very handsomely, and sometimes even Switzerland's highest court has convicted the commodities trading giant Trafigura and one of its senior executives of bribery over payments made by the firm to gain access to Angola's lucrative The civil case into Trafigura in Brazil for the Car Wash scandal has been suspended but some of the $127mn set aside can also be used for settlements with the Brazilian authorities. Trafigura alleges that 43-year-old Gupta was the “controlling mind” behind an array of linked companies including TMT Metals, UIL Malaysia and UIL Singapore, all of which are defendants in the Trafigura Group’s $1. Explore how Trafigura lost $500+ million in one of history's largest commodity frauds when shipments contained no actual nickel. As the nickel scandal began to spiral, Citi was among the earliest to spot the crisis, cutting off the credit facility that Trafigura used for the trades. Non-Compliant” by the Trafigura's former head nickel trader denied allegations by Indian businessman Prateek Gupta on Monday in a London trial that he helped devise a $600 million fraud to swap expensive metals for An internal review followed by an external forensic investigation have uncovered serious misconduct by individuals in Trafigura’s Mongolian petroleum products supply business. In $126m deal, Trafigura pled guilty to a decade of bribery. 1 billion provision against misconduct by individuals in its Mongolian petroleum products supply business after an internal review, it JOHANNESBURG – Singapore-based commodity trader Trafigura Group is facing more than half a billion US dollars in losses after discovering that metal cargoes it had bought did not contain the The recent scandal involving Trafigura, one of the world’s largest commodity trading companies, has sent shockwaves through the industry. Singapore’s squeaky-clean reputation as a major hub for the international commodities business is being tested by Trafigura Group, a scandal-tainted commodities giant whose annual revenue runs into the hundreds of billions of US dollars and which is seeking to resolve investigations by authorities in three countries. Holtum says the review has been overseen by the company’s chief risk officer and chief operating officer, and has examined “what went wrong… Trafigura, which rivals Glencore as one of the world’s largest commodity traders (and which shares parentage, as both groups were started by former Marc Rich + Co traders 30 years ago), thought Indonesia has widened its probe into alleged corruption at state energy company Pertamina to include a Trafigura employee and a domestic shipping company. Argentieri, head of the Justice Department’s Criminal Division. The loss Trafigura paid nearly €5mn in bribes to an Angolan official through an intermediary who was dubbed “Mr Non-Compliant” by the commodity trader’s founder, Claude Dauphin, Swiss prosecutors Switzerland's top criminal court has convicted Trafigura and former executive Mike Wainwright of corruption through bribes for Angolan oil contracts. A super-injunction prevents reporting on even the existence of the injunction. This case has raised concerns not only about Trafigura has been seeking to resolve investigations by regulatory authorities in the United States, Brazil and Switzerland into payments made by former employees via third parties, approximately 10 or more years ago. (Trafigura), an international commodities trading company with its primary operations in Switzerland, pleaded guilty today and will pay over $126 million to resolve an investigation by the U. Trafigura recently discovered a systematic fraud committed by a group of companies connected to and apparently controlled by Mr Prateek Gupta including TMT Metals and companies owned by UD Trading Group. Dec 10, 2025 · Trafigura appealed a Swiss court decision that found it guilty of not having sufficient systems in place to prevent bribery. More than two years after it emerged that Trafigura Group lost over half a billion dollars in an alleged nickel fraud, a trial began as the trading giant attempts to recover losses from the man it Trafigura Beheer, the multinational commodities trading company which is at the centre of a scandal in Jamaica, is embroiled in an investigation into a Zambian government minister. Trafigura has resolved a previously disclosed investigation by the U. 46 billion) hit after discovering what it suspects was fraud involving employees in its Mongolian oil business. This is the first time Trafigura has faced criminal charges since the toxic waste scandal unfolded in Ivory Coast’s commercial capital, Abidjan, in 2006. Commodity Futures Trading Commission charges of fraud, manipulation and impeding This week will see the trading house attempting to persuade the Swiss Federal Criminal Court that the schemes put in place to funnel funds to an Angolan official 15 years ago were the work of former employees, acting in the shadow of the late founder Claude Dauphin, now deceased. Trafigura accused Gupta and eight businesses it said are linked to him of a “systematic fraud” in early 2023, after the trader revealed it had suffered losses originally estimated at around US Trafigura Group and one of its longstanding top executives have been charged over allegations of bribing public officials in Angola, in a major blow to one of the world’s largest commodity Trafigura Group is preparing to take a $1. In early 2006, Pemex trucked the coker gasoline to Brownsville, Texas, where Trafigura loaded it aboard the Panamanian registered tanker Probo Koala, which was owned by Greek shipping company Prime Marine Management Inc. [43] In September 2009, multi-national oil company Trafigura obtained in a British court a super-injunction to prevent The Guardian newspaper from reporting on an internal Trafigura investigation into the 2006 Ivory Coast toxic waste dump scandal. Justice Department into violations of the Foreign Corrupt Practices Act (FCPA), stemming from the company’s corrupt scheme to pay bribes to Brazilian government This week, Trafigura said that a former employee who had been caught up in the Brazilian scandal tipped off investigators to a second, similar alleged bribery scheme - this time in Angola. in the Car Wash scandal. Trafigura, an oil trading company, initially tried to clean up low-grade oil by tipping caustic soda into the hold of the Probo Koala. The firm faces an estimated $1. yknr, rymxme, rlora, 4cwng, giuf, sq46, xjce, f30ri, oi4ap, aoi4,