Infotech

Bribes: embarrassing confession from former Glencore employee



Posted on Sep 16, 2021 at 12:55 PMUpdated Sep 16, 2021, 2:20 PM

Corrupt officials, crooked middlemen, millions of dollars in bribes… Anthony Simler, a former trader at Swiss trader Glencore, told the American courts how he and several of his colleagues had, for years, maneuvered to have access to oil shipments of African public companies. His detailed story, revealed by Bloomberg, rarely reveals the corrupt processes that can occur in commodity trading.

The 49-year-old British trader left Glencore’s West Africa office in 2019 and has been cooperating with US justice ever since. He pleaded guilty to foreign corruption and money laundering last July. The American authorities can take up these cases because, even if they relate to events in other countries, the payments were made in dollars and pass through the American banking system.

Leave a Reply

Your email address will not be published. Required fields are marked *