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.<\/p>\n
The settlements will help remove question marks that have long overshadowed the trader\u2019s (shady) business, profiled extensively in the gripping book\u00a0The World For Sale<\/a>. 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.<\/p>\n 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.<\/p>\n https:\/\/www.zerohedge.com\/commodities\/glencore-pleads-guilty-decade-bribery-and-market-manipulation-will-pay-15-billion<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" 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 … Continue reading