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Violation Tracker Individual Record

Company: Glencore International A.G. and Glencore Ltd.
Current Parent CompanyGlencore
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $1,185,000,000
Year: 2022
Date: May 24, 2022
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Secondary Offense: price-fixing or anti-competitive practices
Mega-ScandalForeign Bribery
Violation Description: Glencore International A.G. and Glencore Ltd., both part of a multi-national commodity trading and mining firm headquartered in Switzerland, each pleaded guilty and agreed to pay $700 million to resolve the government's investigations into violations of the Foreign Corrupt Practices Act through the payment of bribes to government officials in Nigeria, Cameroon, Ivory Coast, Equatorial Guinea, Brazil, Venezuela, and the Democratic Republic of the Congo. At the same time, Glencore Ltd. pleaded guilty to one count of conspiracy to engage in commodity price manipulation in its trading of fuel oil in the United States. For that offense Glencore agreed to pay another $485 million in criminal penalties. The civil portion of this case included a parallel action by the Commodity Futures Trading Commission, which issued its own announcement (see separate entry).
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
HQ Country of Current Parent: Switzerland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: commodity trading; mining
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.