Daily Management Review

Glencore to pay $1.2B to settle claims by U.S. authorities


05/25/2022


According to the country's Attorney General Merrick Garland, Swiss commodity trader Glencore would have to pay about $1.2 billion to settle legal allegations from US authorities.



Glencore to pay $1.2B to settle claims by U.S. authorities
The business is accused of bribing officials in multiple nations and manipulating oil prices in two US ports, according to him.

Glencore will also have to pay $700 million in bribery damages and $485 million in price manipulation damages.

The corporation stated that it has achieved legal deals with authorities in the United Kingdom and Brazil, where it was facing corruption charges.

source: cnn.com