Future Of British Business
Fraud Cops Implicate 11 Ex-Glencore Staff in Bribery Probe
- Company earlier plead in UK guilty to bribery and manipulation
- SFO will make charging decisions on ex-staff by April
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As many as 11 former Glencore Plc employees could be under investigation by UK prosecutors as the company prepares to be sentenced for bribery across five African countries, prosecutors said.
The commodity trading industry has been dogged by anti-corruption investigations for years, but few individual traders or executives have faced prosecution. The SFO’s comments mark the clearest sign yet that further charges are possible against individuals involved in the widespread corruption perpetrated by Glencore.