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Published 5 months ago

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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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…

5 months ago·Boston, United States

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