Trafigura’s Bribery Case Puts Commodity Trading Culture on Trial in Switzerland

A landmark trial is set to shake the global commodity trading industry as Trafigura Group and its former chief operating officer face corruption charges in Switzerland. This is a pivotal moment for prosecutors worldwide who have long scrutinized the behavior of commodity traders. For the first time, senior leadership of a major trading house faces allegations of bribery and corruption.

Mike Wainwright

Why This Trial Matters:

• This marks the most significant Swiss prosecution of a company since the 2022 conviction of Credit Suisse.

• Trafigura and Mike Wainwright will stand before a panel of three judges at the Federal Criminal Court in Bellinzona.

• The case underscores the determination of local prosecutors to hold corporations accountable for criminal negligence.

• This trial is not just about one company; it's a crucial step in the global effort to ensure transparency and integrity in commodity trading. Stay tuned for updates on this significant legal battle.

Extracts:

• "A landmark trial for the global commodity trading industry begins in Switzerland on Monday, as Trafigura Group and its former chief operating officer stand accused of corruption."

• "The behavior of commodity traders has been in the crosshairs of global prosecutors for several years, but this week marks the first time that senior leadership of a major commodity trading house face allegations of bribery and corruption."

• "In the biggest Swiss prosecution of a company since 2022, Trafigura and its former chief operating officer, Mike Wainwright, will face a panel of three judges at the Federal Criminal Court in Bellinzona."

• "Not since the conviction of Credit Suisse, has a company of Trafigura’s size been put on trial in Switzerland, underscoring the importance of the case for local prosecutors determined to hold corporates to account who they believe have been criminally negligent."

Go to Bloomberg article

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