Trafigura investigated for alleged corruption, market manipulation
- Editor
- May 31, 2020
- 1 min read
Summary: Trafigura is under investigation by the U.S. Commodity Futures Trading Commission (CFTC) for alleged corruption and market manipulation linked to oil trading. The probe, which spans several years, includes scrutiny of Trafigura’s operations in South America and Africa. The investigation may be related to Trafigura’s role in Brazil’s “Car Wash” scandal, where leaked documents tied the company to Jorge Luz, a key figure convicted of bribery. Luz had proposed deals between Trafigura and Petrobras, though no agreements were finalized. The CFTC issued wide-reaching subpoenas and is examining whether improper payments were made in return for discounted oil. The case adds to Trafigura’s long history of scandals, including its role in the 2006 Ivory Coast toxic waste crisis. Despite its opaque ownership structure and past controversies, the company remains a dominant player in global commodities trading .
Source: The Guardian
