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Glencore pleads guilty to bribery related to African oil operations

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theguardian.com

The commodity trader Glencore has pleaded guilty in a London court to seven counts of bribery related to its oil operations in several African countries.The Serious Fraud Office, which had brought charges against the FTSE 100-listed company after conducting an investigation, said the sentencing hearing would take place on 2 and 3 November.Last month, Glencore Energy UK said it would pay a $1.1bn US settlement, and indicated that it would plead guilty in the UK.

The SFO had formally charged the company at the Westminster magistrates court in London with bribery offences for preferential access to oil between 2011 and 2016.

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