The subsidiary, Glencore Energy (UK) Ltd., admitted to paying more than $28 million in bribes to secure access to oil across its operations in five African countries—Nigeria, Cameroon, Ivory Coast, Equatorial Guinea and South Sudan—according to an indictment filed in London’s Southwark Crown Court.
The financial penalty the company will pay in the U.K. will be determined at a sentencing scheduled for early November, according to the U.K.’s Serious Fraud Office, which oversaw that country’s investigation into Glencore.
Source: Glencore Subsidiary Pleads Guilty to Bribery Charges in U.K. – WSJ
