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Oil trader settles bribery claims

Summary by Boston Herald
GENEVA  — Geneva-based commodities trading firm Gunvor said that it has reached a $661 million settlement with U.S. and Swiss prosecutors after convictions for bribery of foreign officials in connection with the petroleum industry in Ecuador. The Swiss attorney general’s office says the company didn’t take “reasonable and necessary organizational measures” to prevent bribery by its employees in the South American country over four years starting…

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Boston HeraldBoston Herald
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Oil trader settles bribery claims

GENEVA  — Geneva-based commodities trading firm Gunvor said that it has reached a $661 million settlement with U.S. and Swiss prosecutors after convictions for bribery of foreign officials in connection with the petroleum industry in Ecuador. The Swiss attorney general’s office says the company didn’t take “reasonable and necessary organizational measures” to prevent bribery by its employees in the South American country over four years starting…

·Boston, United States
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Boston Herald broke the news in Boston, United States on Sunday, March 3, 2024.
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