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Glencore ordered to pay $150m by Swiss in criminal probe

6th August 2024

By: Bloomberg

  

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Glencore was ordered to pay $150-million for failing to take sufficient measures to prevent bribery over its acquisition of mining assets in the Democratic Republic of Congo, Swiss prosecutors said as they closed a four-year investigation into the case.

“Glencore’s failure to take all necessary and reasonable organizational measures” warranted a 2-million Swiss franc ($2.4-million) fine and the further $150-million in compensation, the Swiss Attorney-General’s Office said in a statement on Monday.

“Glencore is pleased to have resolved these investigations relating to past matters that occurred over 13 years ago,” Chairman Kalidas Madhavpeddi said in an emailed statement. “This resolves the last of the previously disclosed government investigations into historical misconduct.”

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Edited by Bloomberg

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