Skiplink Navigation

Main Features

Glencore faces British criminal probe

Protesters outside Glencore HQ

Protesters demonstrated outside the Glencore HQ in Switzerland last year.

(© Keystone / Urs Flueeler)

Swiss commodities giant Glencore is being investigated by the British Serious Fraud Office (SFO), it emerged on Thursday. The company would give no further details, but it already faces questions about its dealings in several countries.

The SFO said it “confirms it is investigating suspicions of bribery in the conduct of business by the Glencore group of companies, its officials, employees, agents and associated persons,” but would add no other detail.

The commodities trader has come under increasing pressure over suspicions of engaging in questionable business practices. Last year, it was subpoenaed by the United States Department of Justice (DoJ) in relation to its activities in Nigeria, the Democratic Republic of Congo (DRC) and Venezuela.

This followed a criminal complaint submitted in Switzerland by the NGO Public Eye against the company’s activities in DRC, including suspect links with billionaire Israeli businessman Dan Gertler.

Leaked documents, known as the “Paradise Papers”, from the International Consortium of Investigative Journalists (ICIJ), exposed dealings of the commodities trading industry in Africa.

Last year, several media outlets reported that the SFO was considering a probe into Glencore’s dealings in the DRC.

Neuer Inhalt

Horizontal Line

WEF 2018

WEF Teaser 2018

Why Switzerland struggles with dirty gold

subscription form

Form for signing up for free newsletter.

Sign up for our free newsletters and get the top stories delivered to your inbox.

Click here to see more newsletters