Bribery Case Snares Man Who Held Trafigura’s Secrets and Purse Strings
- Editor
- Dec 7, 2023
- 1 min read
Summary: Mike Wainwright, former COO and one of Trafigura’s most powerful yet low-profile figures, has been charged by Swiss prosecutors with bribing an Angolan official to secure oil shipping contracts. The charges mark a pivotal moment, as Wainwright is among the highest-ranking executives in global commodity trading to face personal legal accountability. Known for his numerical rigor and deep loyalty to Trafigura’s late founder Claude Dauphin, Wainwright held immense influence over the company’s inner workings—including control over employee share allocations. He is also implicated in Brazil’s "Car Wash" scandal, where prosecutors allege he approved payments tied to bribes at Petrobras. Trafigura acknowledges past misconduct but denies current leadership complicity, and both the company and Wainwright intend to contest the charges. The case comes amid a leadership reshuffle and follows Trafigura’s record profits and $5.9 billion dividend payout to employee-shareholders.
Source: Bloomberg
