On Wednesday, the Southwark Crown Court in London was told by the Serious Fraud Office of the UK of how Glencore’s staff and middlemen gave kickbacks to the tune of $26m to officials in Nigeria, Ivory Coast, Cameroon, South Sudan and Equatorial Guinea.
On Thursday, Glencore was asked by the London court to pay £281m in fines as a sanction for its part in seven bribery offences pertaining to its oil business in Africa. He noted that the wrongdoings of the company’s UK unit indicated “corporate corruption on a widespread scale, deploying very substantial sums of money in bribes.”Commenting on the development, the Executive Director, Civil Society Legislative Advocacy Centre, Auwal Musa Rafsanjani, said the Economic and Financial Crimes Commission should deliver justice against the Nigerian perpetrators.
Source: Digital Coin News (digitalcoinnews.net)
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