Glencore pleaded guilty to corruption in the United States and Brazil and agreed to pay $1.06 billion

The company dedicated to the exploitation and marketing of raw materials and foodstuffs expects to pay $1020 million to the United States and $40 million to Brazil, while the amount of fines that should be transferred to the United Kingdom has not been determined, according to a detailed statement. The group indicated last February that it had allocated $1.5 billion to solve the ongoing investigations in the three countries.

The company said it expects the final global settlement, including a future fine in Britain, to not exceed the $1.5 billion set aside in February for investigations related to operations in the Democratic Republic of Congo, Nigeria and Venezuela.

“Glencore has resolved investigations previously disclosed by authorities in the United States, United Kingdom and Brazil into past bribery-related activities at some of the group’s companies,” the company said in a statement.

Any final decision would end a multi-year investigation by the US and UK governments that has sanctioned the Swiss-based multinationals, which continue to face investigations into corruption and bribery, including from Swiss and Dutch authorities.

The Swiss company has been at the center of the scene in Argentina due to its links with the agricultural export company Vicentin.

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Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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