The Fight for Transparency and Justice: A Wake-Up Call for Europe
- Kris Vansanten
- Jan 7
- 2 min read
Updated: 4 days ago
On December 2nd, trading giant Trafigura faces court over allegations of corruption involving its former parent company, Trafigura Beheer BV, and former senior executive Mike Wainwright. The indictment reveals how top executives, including late CEO Claude Dauphin, were allegedly entangled in corruption. If convicted, Wainwright could become one of the most senior commodity traders ever found guilty of such crimes.
But this case goes beyond one trial. It pulls back the curtain on Trafigura's controversial acquisition of Nyrstar NV, once the world’s second-largest zinc smelter. In a 2019 restructuring scheme, Trafigura allegedly hollowed out Nyrstar, leaving it in ruins while securing full ownership of its operational assets [Note: Mike Wainwright also shows up in this case as the author of a highly disputed letter submitted to the Board of Nyrstar in 2021 justifying the transfer of the Myra Falls and Langlois mines from NN2 to Trafigura].
Since then, a network of over ten (10!) corporate law firms, advisors, auditors, and PR agencies—dubbed by some as “Belgium’s white-collar mafia”—have mobilized to shield their powerful client. Their apparent mission seems to be to obstruct transparency, complicate proceedings, and intimidate the institutional framework, all to safeguard Trafigura at the expense of public trust, capital markets, and democratic principles.
At a time when democracy faces mounting pressure globally, Europe must rise to the challenge. The misuse of core democratic rights—such as the right of defense, investigation secrecy, and attorney-client privilege—to evade justice erodes trust and breeds impunity. The stakes are too high to remain passive.
The time to act is now. Transparency, accountability, and justice must prevail to protect our democratic values and ensure a fair playing field in our legal and economic systems. Let’s not let soft remedies create festering wounds. United, we can stand firm against external and internal threats alike.
Bloomberg: Trafigura Paid Bribes Via 'Mr. Non-Compliant', Swiss Prosecuters Say
