Trafigura faces trial for bribing Angolan officials
- A multinational company is facing a criminal trial in Switzerland for allegedly bribing foreign officials to secure contracts.
- Trafigura is accused of making unlawful payments totaling about $5 million to Angolan officials.
- This trial could set a significant precedent for accountability in the commodities trading industry.
In Switzerland, a significant legal case is unfolding as Trafigura Group, a multinational commodities trading company, confronts serious allegations of bribery. The trial began on December 2, 2024, in Bellinzona, where the company is accused of paying around $5 million to secure advantageous oil contracts in Angola. This marks the first time in Switzerland that a multinational organization is being prosecuted on charges related to bribing a foreign public official. The accusations are rooted in activities that took place between April 2009 and October 2011, involving a former senior employee of Trafigura and a high-ranking official from Angola’s state oil company, Sonangol. Allegations propose that these individuals were involved in accepting substantial bribes, specifically more than 4.3 million euros and $604,000. The legal proceedings come on the heels of a broader investigation into corruption within the commodities trading sector, a realm that has recently seen increased scrutiny due to similar accusations against other companies such as Glencore and Gunvor. In response to the accusations, Trafigura has asserted its commitment to compliance, indicating that it has made significant investments in strengthening its anti-corruption measures over the years. The company's legal representatives argued for the presumption of innocence, emphasizing that their former parent company failed to implement necessary systems to prevent unlawful payments. This case is emblematic of the ongoing challenges and ethical dilemmas faced by multinational companies operating in regions with complex regulatory environments. As the trial progresses, it is indicative of a growing call for accountability in the commodities industry, highlighting the importance of ethical practices in international trade. The case could have lasting implications for how such companies conduct business abroad and sets a precedent for future legal actions related to corporate corruption in Switzerland and beyond.