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Apr. 24, 2024

Trafigura Settlement Forms Part of DOJ’s Years-Long Oil Scheme Probe

  • David Hill
    Anti-Corruption Report
Continuing, and perhaps completing, a DOJ sweep of the commodities trading industry, Trafigura Beheer BV, a multinational commodities trader, entered into a settlement with the DOJ in March 2024 over bribery activities spanning 2003 to 2014. The company acknowledged that former employees and agents provided bribes to officials tied to Brazilian state-owned oil company Petrobras and will pay a total of about $127 million. The Anti-Corruption Report spoke with experts in the field about the sweep, why conduct in Angola may have been excluded from the settlement and how Trafigura’s slow remediation affected the settlement. See “Brazil’s Anti-Corruption Setbacks Highlight Need for Effective Company Compliance Programs” (Nov. 8, 2023).

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