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Glencore pleads to bribery in Nigeria, Cameroon, Ivory Coast, Sudan, Equatorial Guinea

Glencore pleads to bribery in Nigeria, Cameroon, Ivory Coast, Sudan, Equatorial Guinea

A British subsidiary of mining and trading giant Glencore formally pleaded guilty to seven counts of bribery in connection with oil operations in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria and South Sudan. At a Southwark Crown Court hearing in London, Glencore Energy admitted to paying more than $28 million in bribes to secure preferential access to oil and generate illicit profit between 2011 and 2016. The company will be sentenced on November 2 and 3, the UK Serious Fraud Office (SFO) said. Glencore, a Swiss-based multinational, has already said it expects to pay up to $1.5 billion to settle allegations…
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