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Swiss Criminal Court Convicts Trader Trafigura In Angola Bribery Case

Summary by TFD

Switzerland’s top criminal court has convicted a multinational company for the first time, ruling against Singapore-based commodities trader Trafigura in a bribery case linked to lucrative oil industry contracts in Angola, the Associated Press (AP) reported. Prosecutors argued that the firm had reaped nearly $144 million in profits from contracts resulting from the scheme. I Photo: Trafigura The federal court in the southern city of Bellinzona f…

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Global Trade Review (GTR)

Trafigura wins access to bank records in nickel fraud case

A New York judge has granted Trafigura permission to subpoena records from major banks to help trace the whereabouts of funds paid to a metals trader it accuses of fraud. The commodity trading giant asked a court in New York late last month to grant it access to records held by several big banks for transfers made by companies and individuals connected to Prateek Gupta. Trafigura has accused Gupta of orchestrating a US$600mn fraud by selling it …

2 months ago

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