https://newsletter.mw.creamermedia.com
Business
Business
business

Trafigura’s ex-COO defends ‘inspirational’ founder at Swiss bribe trial

Mike Wainwright

Mike Wainwright

5th December 2024

By: Bloomberg

  

Font size: - +

Mike Wainwright, Trafigura Group’s ex-COO who’s on trial in Switzerland accused of corruption, has defended the trading house’s late founder Claude Dauphin as an “inspirational person.”

Dauphin, a totemic figure in the commodity trading industry who died in 2015, has featured extensively in two major corruption cases against Trafigura this year, prompting a rare public row about his legacy.

In March, the company admitted that he had approved bribe payments in Brazil as part of an agreement with the US Department of Justice — prompting a furious reaction from Dauphin’s son, who accused the company of using him as a scapegoat.

In the case currently being heard at the federal criminal court in Bellinzona, prosecutors allege Dauphin played a key role in bribing an Angolan official for oil deals.

Wainwright, who is charged alongside Trafigura’s Dutch parent company and two other individuals, was asked about his relationship with Dauphin in court on Tuesday. Trafigura, Wainwright and the other defendants deny the bribery charges at the Swiss trial.

“Claude was the CEO, the boss of the company. I would say he was an inspirational person and a genius in managing people,” Wainwright said during testimony. “He gave people opportunity and knew how to motivate people to do better. He was a good person.”

Responding to evidence from the Angolan official, Paulo Gouveia Junior, that Dauphin had promised to pay him in exchange for helping to resolve a debt owed to Trafigura by Angola’s state oil company, Wainwright said, “I don’t believe Mr. Dauphin would pay Paulo Junior any money.”

Mariano Marcondes Ferraz, the Brazilian trader who ran Trafigura’s Angolan oil business that is at the heart of the case, was the focus of much of the first two days of the trial. Trafigura unsuccessfully sought to have his evidence thrown out.

Asked of his impressions of Ferraz, Wainwright was less complimentary. Ferraz was “an entrepreneur” whom “Mr. Dauphin and others wanted to actively bring into the business.”

“He was a genuine person – or at least that’s what I thought,” he said.

The trial continues on Wednesday, with Wainwright expected to resume his testimony.

Edited by Bloomberg

Comments

 
 

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Minerals Council South Africa CEO Mzila Mthenjane
Minerals Council optimistic about ongoing MPRDA review
13th December 2024 By: Marleny Arnoldi
Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.105 0.182s - 143pq - 2rq
Subscribe Now