Switzerland’s top criminal court has convicted a multinational company for the first time, ruling against Singapore-based commodities trader Trafigura in a bribery case linked to lucrative oil industry contracts in Angola, the Associated Press (AP) reported.

Prosecutors argued that the firm had reaped nearly $144 million in profits from contracts resulting from the scheme. I Photo: Trafigura
The federal court in the southern city of Bellinzona fined Trafigura 3 million Swiss francs (about $3.3 million) over payments totaling nearly $5 million to a foreign public official.
The court did not impose the maximum $5 million penalty, ruling that the firm had compliance measures in place at the time—more than a decade ago. Additionally, the court ordered Trafigura to set aside $145 million for possible compensation claims.
Prosecutors argued that the firm had reaped nearly $144 million in profits from contracts resulting from the scheme.
A Trafigura spokesperson said the company was “disappointed” with the verdict and was “reviewing the matter,” without indicating whether it planned to appeal.
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