New York — A former UK-based oil trader at Glencore pleaded guilty in the US to participating in an international scheme to bribe officials in Nigeria to win favourable treatment from the state-owned oil company.
The plea is just the latest legal setback for Glencore, already embroiled in a wide-ranging probe by the US department of justice on allegations of bribery and money laundering. The UK, Switzerland and Brazil are also investigating the company. Glencore said on Monday that it has taken “remedial measures” based on what it has learnt from the government’s investigation. “Glencore has significantly enhanced its ethics and compliance programme over the last few years with a view to developing a best in-class programme,” the company said.
Stimler joined Glencore from a family-run petrochemical conversion business in 1999, according to an online biography. He left in 2019 after the head of the oil division retired.
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