Punished for bribery: Swiss raw materials giant Trafigura paid a fine of 127 million

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Trafigura bribed employees of Brazilian oil company Petrobras between 2003 and 2014, netting more than $61 million in profits, the U.S. Department of Justice said Thursday. Bribes of up to 20 cents per barrel were paid in oil trade between Petrobras and Trafigura.

The U.S. Department of Justice acknowledges that Trafigura cooperated with the investigation and accepts responsibility. Trafigura said in a statement that the ministry also appreciated the proactive decision not to use third parties to start new businesses since 2019 and the development of improved anti-corruption policies and procedures.

Marc Rich is one of the co-founders

The internationally active Dutch raw materials trading company has its administrative headquarters in Singapore and offers, among other things, metals, minerals, oil and petroleum products, gas and electricity.

Trafigura was founded in 1993 by Claude Dauphin, a former senior employee of Marc Rich, and other former Rich executives. Raw materials trading company Glencore, headquartered in the canton of Zug, also traces its roots to parts of Marc Rich.

Rich (actually Reich), who was born in Antwerp in 1934, died in Lucerne in 2013 and had an Israeli passport as well as a Belgian passport, was indicted in the USA in 1983 and, according to public statements at the time, the Prosecutor and later the Mayor of New York Rudolph Giuliani was the biggest tax fraudster in US history. Rich had done business with various dictators around the world. (SDA)

Source :Blick