Glencore, the Swiss multinational commodity trading and mining company, has once again been convicted of corruption, this time in Switzerland. The company has been ordered to pay approximately €140 million in fines and damages for bribing a high-ranking official in the Democratic Republic of Congo in exchange for minority shares in a state-owned mining company at a discounted price.
The Swiss authorities determined that Glencore benefited from the deal and failed to take sufficient measures to prevent corruption. The company has accepted the verdict and will not appeal the sentence.
This latest conviction adds to a string of corruption cases against Glencore in recent years. The company has pleaded guilty to bribery charges in several African countries, Brazil, and Venezuela, resulting in over €1 billion in fines. Earlier this week, it was announced that British authorities will also prosecute several former Glencore employees for their involvement in these activities.
