Us Seeks Documents From Glencore On Corrupt Intermediaries (Glen: L)

From/via the Organized Crime as well as Corruption Reporting Project, Oct 26:

The U.S.A. Department of Justice is seeking documents from the world’s largest commodities trader, Glencore, over intermediary companies that it uses inwards Venezuela, the Democratic Republic of the Congo, as well as Nigeria, Reuters reported on Tuesday.

Shortly after, the metals giant posted a 12 percentage ascent inwards copper production as well as a 44 percentage ascent inwards cobalt production, all from a restart of its processing operations at the Katanga mine inwards the Democratic Republic of the Congo.

The U.S.A. has been investigating Glencore’s operations over allegations that its operations inwards Venezuela, the Democratic Republic of the Congo as well as Nigeria bribed loose energy officials as well as engaged inwards corrupt practices. 

“The investigation focuses on intermediaries,” said an unnamed rootage to Reuters. Another rootage said the Department of Justice was focusing on iii intermediary firms that function amongst Glencore. 

Glencore, an Anglo-Swiss company, has a decades-long history of corruption, which include allegations that it paid millions of dollars inwards illegal kickbacks to Saddam Hussein’s regime.

The recent U.S.A. investigation focuses on violations of the Foreign Corrupt Practices Act as well as coin laundering laws. In Nigeria, it centers on Glencore’s ties to associates of the country’s sometime crude oil government minister Diezani Alison-Madueke.

These associates ain Atlantic Energy Holdings, a Nigeria-based society whose subsidiary sold Glencore bought oil. They are alleged to accept laundered coin as well as bribed Nigeria’s crude oil minister. 

Meanwhile, inwards Congo, U.S.A. government are looking for data on Israeli homo of affairs Dan Gertler, a partner inwards Glencore’s cobalt as well as copper mines until 2017....MORE