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Glencore UK subsidiary pleads guilty to bribery in Africa

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Glencore Energy admits it paid more than $28m to secure preferential access to oil

A British subsidiary of mining and trading giant Glencore on Tuesday formally pleaded guilty to seven counts of bribery in connection with oil operations in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria and South Sudan.

Glencore, a Swiss-based multinational, has already said it expects to pay up to $1.5bn to settle allegations of bribery and market manipulation and three subsidiaries in the US, Brazil and Britain have now pleaded guilty to criminal offences. But the guilty plea by a corporate heavyweight in London is a much-needed boost for the SFO, which has faced sharp criticism and awaits the outcome of a “forensic” government-ordered review after senior judges overturned two convictions in its Unaoil bribery investigation because of disclosure failings.

 

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That's great news

YashRaghavjee see what I mean. What else has GLN have hidden in their closet and in which countries?

What about in South Africa, they need to be country specific, it’s not fair for other African countries who did not participate in this

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