Trafigura and ex-COO convicted of Bribery by Swiss Court
- Editor
- Jan 31
- 1 min read
Summary: In a landmark ruling, Switzerland’s Federal Criminal Court convicted Trafigura and its former COO, Mike Wainwright, of bribery. Wainwright received a 32-month sentence—20 months suspended—for orchestrating $5 million in bribes to an Angolan oil official in exchange for lucrative shipping contracts that earned Trafigura $151 million. The court also fined Trafigura’s Dutch holding entity $3 million and ordered it to pay $145.6 million in compensation. The ruling marks the first conviction of a senior executive at a major commodity trader in Swiss history. The court highlighted systemic compliance failures and the use of middlemen, including one nicknamed “Mr. Non-Compliant,” who testified but was not indicted. The USB-based exchange of sensitive information was deemed evidence of concealment. While Trafigura expressed disappointment and plans to appeal, the case underscores growing global pressure on opaque trading houses operating out of Switzerland and Singapore.
Source: Bloomberg
