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Court Fines Glencore For Bribery Offences In Five African Countries

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A London court fined the British subsidiary of mining and trading group Glencore 182.9 million pounds ($205.87 million) on Thursday for seven bribery offences in relation to its oil operations in Africa.

Employees and agents of a British subsidiary of mining and trading group Glencore used private jets to transfer cash to pay bribes to oil officials in West Africa, prosecutors told a London court on Wednesday. Glencore Energy UK Limited paid – or failed to prevent the payment of – millions of dollars in bribes to officials in five African countries, Britain’s Serious Fraud Office (SFO) told Southwark Crown Court on the first day of a sentencing hearing.

The UK subsidiary pleaded guilty in June to seven bribery offences. Glencore, a Swiss-based multinational, said in May it expected to pay

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