Ex-Trafigura boss convicted of bribery in landmark case
- Kris Vansanten
- Jan 31
- 2 min read
Updated: Apr 22
The conviction ofย Trafiguraย and one of its key executives is a watershed for the commodity trading industry, and is by all means historical.
To place it into perspective, this article cannot be more explicit:
"๐๐ฐ๐ข๐ฌ๐ฌ ๐๐๐๐๐ซ๐๐ฅ ๐ฉ๐ซ๐จ๐ฌ๐๐๐ฎ๐ญ๐จ๐ซ๐ฌ [...] ๐๐ซ๐จ๐ฎ๐ ๐ก๐ญ ๐ญ๐ก๐ ๐๐ก๐๐ซ๐ ๐๐ฌ ๐ญ๐จ ๐๐ฐ๐ข๐ญ๐ณ๐๐ซ๐ฅ๐๐ง๐'๐ฌ ๐ก๐ข๐ ๐ก๐๐ฌ๐ญ ๐๐จ๐ฎ๐ซ๐ญ, ๐ซ๐๐ฌ๐๐ซ๐ฏ๐๐ ๐๐จ๐ซ ๐ญ๐ก๐ ๐ฐ๐จ๐ซ๐ฌ๐ญ ๐๐ซ๐ข๐ฆ๐๐ฌ, ๐ฌ๐ฎ๐๐ก ๐๐ฌ ๐ญ๐๐ซ๐ซ๐จ๐ซ๐ข๐ฌ๐ญ ๐จ๐๐๐๐ง๐๐๐ฌ."
In other words: it is not seen as a minor offence, but as a major infringement on existing laws and regulations. Therefore, its precedent value is significant and illustrative of the kind of company Trafigura is.
Trafigura is the 100% owner of an operational Belgian company based in Balen. It is also the owner of 100% of the former assets of the Brussels stock exchange quotedย Nyrstar, including mines, smelters and off-take rights for Zinc, Lead and rare earth minerals and metals. It therefore has acquired assets that are of strategic importance, which is particularly relevant in view of the ongoing geopolitical war between the USA, China, Russia and Europe.
In Belgium, 15 law firms are defending Trafigura and its allies for its allegedly fraudulent restructuring of Nyrstar in 2019. Legal proceedings are being stalled, PR firms are being used to hide the truth, spread misleading news and prevent the story from bursting out in public.ย
I sincerely hope that the new government underย Bart De Weverย will show its teeth by calling this circus to an end, requiring full transparency, and ensure that the Belgian legal system radically improves its efficiency and effectiveness to allow justice to be done in the facts, not only in principle.ย
"๐๐ฎ๐ฌ๐ญ๐ข๐๐ ๐ง๐จ๐ญ ๐จ๐ง๐ฅ๐ฒ ๐ก๐๐ฌ ๐ญ๐จ ๐๐ ๐๐จ๐ง๐, ๐ข๐ญ ๐ฆ๐ฎ๐ฌ๐ญ ๐๐ฅ๐ฌ๐จ ๐๐ ๐ฌ๐๐๐ง ๐ญ๐จ ๐๐ ๐๐จ๐ง๐".
