Mining company Glencore settles a corruption case in the Democratic Republic of Congo (DRC) with a payment of 180 million dollars. This also includes any future claims by the state.
The agreement covers all current and future DRK claims that could arise from “alleged” acts of corruption by the group in the country between 2007 and 2018, the Zug-based group announced on Monday.
Glencore was targeted by several regulators for its activities in the DRC. For example, by the US Department of Justice (DOJ) and in Switzerland by the Federal Department of Justice.
Congolese law applies to the agreement now reached, Glencore emphasized in the communiqué. The company’s admissions relate solely to missteps admitted in a previous resolution with the DOJ.
In May of this year, Glencore pleaded guilty to involvement in bribery in seven countries in Africa and South America, including the Democratic Republic of Congo, in an out-of-court settlement with the DOJ. The company was fined more than $1 billion at the time. (cpf/sda/awp)
Soource :Watson
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