Loading ...Glencore Pleads Guilty To Decade Of Bribery And Market Manipulation, Will Pay $1.5 BIllion Penalty
The “largest criminal enforcement action to date for commodity price manipulation conspiracy in oil markets.”
Swiss commodity trading giant Glencore agreed to plead guilty to multiple counts of bribery and market manipulation and pay penalties of up to $1.5BN to settle US, UK and Brazilian probes that have hung over the commodities giant for years.
The settlements will help remove question marks that have long overshadowed the trader’s (shady) business, profiled extensively in the gripping book The World For Sale. But the charges and admissions of guilt paint a damning, globe-spanning picture of how far the company, founded by U.S. fugitive Marc Rich, has been willing to go in pursuit of profit.
According to Bloomberg, Glencore units agreed to plead guilty to a list of charges that range from bribery and corruption in South America and Africa, to price manipulation in US fuel-oil markets.
Can someone explain to me why these fu@#s do not go to jail, but if i walk into a bank with a gun take money that is not mine I go to jail!!
This pisses me off.