Violation Tracker Global

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Violation Tracker Global: Individual Record

Company: Glencore International AG
Current Parent Company: Glencore
Parent at the Time of the Penalty Announcement: Glencore
Jurisdiction: Switzerland
Region: Europe
Penalty Currency: Swiss franc
Penalty Amount in Original Currency: 134,980,807
U.S. Dollar Equivalent at the Time of the Penalty Announcement: $152,255,400
Year: 2024
Date: August 5, 2024
Agency: Office of the Attorney General
Offense Group: competition-related offenses
Offense Category: kickbacks and bribery
Description: After four years of investigation, the Office of the Attorney General of Switzerland completed its criminal investigation against Glencore International AG. It imposed a summary penalty order on the grounds of corporate responsibility for Glencore's failure to take all necessary and reasonable organizational measures with regard to the bribery of foreign public officials by a business partner in connection with the latter's acquisition of minority stakes in two mining companies in the Democratic Republic of Congo (DRC) in 2011. The OAG ordered Glencore to pay a fine of CHF 2 million and a compensation claim amounting to USD 150 million.
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)
VTG Record ID: VTG24-72838