Glencore billionaire Alex Beard appears at UK court accused of corruption
Alex Beard, the billionaire former head of oil at Glencore, appeared for the first time at a London court after being charged with corruption by the UK’s fraud agency.
Beard, 57, was accused last month by the Serious Fraud Office (SFO) of conspiring to make corrupt payments to government officials and state-owned oil firm employees in Nigeria and Cameroon more than a decade ago.
Beard, was one of Glencore’s long-serving top executives before his departure in 2019, is one of the most senior oil traders ever charged with a crime. His lawyer indicated at the Westminster Magistrates Court hearing that Beard would plead not guilty.
Appearing alongside him on Tuesday was Andy Gibson, Glencore’s ex-head of oil operations. Gibson, Beard’s second in command, was accused of four counts of conspiracy to make corrupt payments in Nigeria and Cameroon between 2007 and 2014, and Ivory Coast between 2007 and 2010. He was also alleged to have conspired to falsify invoices.
The judge sent the case to Southwark Crown Court and the next hearing is scheduled to take place on October 8.
Former Glencore employees Paul Hopkirk, Ramon Labiaga and Martin Wakefield were also in court accused of conspiring to make corrupt payments to government officials and employees at state owned oil companies in Nigeria, Ivory Coast and Cameroon.
A sixth defendant, David Perez, also appeared at the court charged by the SFO.
Lawyers for Gibson and Hopkirk also said that it was indicated that they would plead not guilty. The other defendant’s lawyers said no plea had bee indicated yet.
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