News ID: 260374
Published: 0827 GMT October 17, 2019

Swiss order Gunvor to pay nearly $95 million for corruption case

Swiss order Gunvor to pay nearly $95 million for corruption case

Swiss federal prosecutors have ordered Gunvor to pay almost 94 million Swiss francs ($94.8 million), including a fine of 4 million, for its role in corruption cases.

“The Geneva commodities trader has been convicted of failing to take all the organizational measures that were reasonable and necessary to prevent its employees and agents from bribing public officials in order to gain access to the petroleum markets in the Republic of Congo and Ivory Coast,” a statement from the Swiss Attorney General’s Office on Thursday said, Reuters.com reported.

A former Gunvor employee said he paid bribes to win contracts, according to a Swiss prosecution document.

 

   
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