GLENCORE (Swiss)
We were founded in 1974. Today, Glencore is one of the world’s leading diversified natural resource companies, producing and trading more than 90 commodities.
https://www.glencore.com
Glencore Plc GLEN.L said on Wednesday it would cooperate with U.S. authorities after they demanded documents about the mining firm's business in Democratic Republic of Congo, Venezuela and Nigeria as part of a corruption investigation.
https://www.reuters.com/article/us-glencore-subpoena-idUSKBN1K10SI
Serious Fraud Office investigates Glencore over suspected bribery
The £30bn company, which is the world’s largest commodity trader, says it will cooperate
https://www.theguardian.com/business/2019/dec/05/serious-fraud-office-investigates-glencore-over-suspected-bribery
Former Mining Exec Details Suitcase Full of Cash He Used to Seal Deals
“I used to go with 500,000 pounds to London,” Paul Wyler who was one of Glencore’s most senior executives and a board director until 2002, said in an interview for The World for Sale, a book on the history of the commodity trading industry.
https://www.bloomberg.com/news/articles/2021-02-24/former-glencore-director-says-he-flew-the-world-with-bag-of-cash
Swiss AG latest investigating Glencore for corruption
Glencore announced it is under criminal investigation by the Office of the Attorney General of Switzerland (OAG) over corruption allegations, adding to the growing list of scrutiny the multinational commodity trading and mining company is facing.
On June 19, Glencore said it had been informed by the OAG that the office was probing Glencore International “for failure to have the organizational measures in place to prevent alleged corruption in the Democratic Republic of Congo.” Glencore added that it will cooperate with the investigation.
Other investigations
In December 2019, Glencore announced it was under investigation by the U.K. Serious Fraud Office. In confirming the investigation, the SFO said its focus was on “suspicions of bribery in the conduct of business by the Glencore group of companies, its officials, employees, agents, and associated persons.”
In April 2019, Glencore announced the U.S. Commodity Futures Trading Commission launched an investigation into whether the company and its subsidiaries violated certain provisions of the Commodity Exchange Act and/or CFTC regulations through corrupt practices in connection with commodities.
In July 2018, Glencore Ltd, a subsidiary of Glencore plc, announced it received a subpoena from the U.S. Department of Justice to produce documents and other records concerning potential violations of the Foreign Corrupt Practices Act and U.S. anti-money laundering statutes. The company said the requested documents “relate to the Glencore Group’s business in Nigeria, the Democratic Republic of Congo, and Venezuela from 2007 to present.”
Glencore was cited hundreds of times in the Panama Papers. It then came under heavy criticism in the Paradise Papers—the sequel to the Panama Papers—which revealed Glencore loaned tens of millions of dollars to Dan Gertler, an Israeli businessman with close ties to Joseph Kabila, former president of the Democratic Republic of Congo.
https://www.complianceweek.com/anti-corruption/swiss-ag-latest-investigating-glencore-for-corruption/29102.article
Rothschild links to Glencore
Nat Rothschild's investment in Glencore's convertible bonds
https://www.ft.com/content/cbc89dbe-776f-11e0-824c-00144feabdc0
Chad hires Rothschild to advise on $1 billion Glencore debt
The Glencore loan accounted for 98 percent of Chad's $1.4 billion external commercial debt at the end of 2016, according to the IMF. The World Bank estimated Chad's total gross domestic product last year at about $9.6 billion.
Glencore began lending to Chad in exchange for crude in 2013 with a $600 million three-year prepayment followed by a $1.45 billion oil prepayment in 2014 to finance the state oil firm's purchase of Chevron's oil assets in the country.
https://sg.finance.yahoo.com/news/chad-hires-rothschild-advise-1-billion-glencore-debt-120610671–sector.html