Trafigura Convicted in Landmark Swiss Corruption Case
Swiss court finds Trafigura and former executive guilty of bribing Angolan official, marking the nation's first corporate conviction for foreign corruption.
- Trafigura was fined 3 million Swiss francs and ordered to pay $145.6 million in compensation for bribery-related offenses involving an Angolan oil official.
- Former Chief Operating Officer Mike Wainwright received a 32-month prison sentence, with 12 months to be served, and plans to appeal the verdict.
- The case involved over $5 million in bribes paid through intermediaries to secure oil contracts in Angola between 2009 and 2011.
- This marks the first time a company in Switzerland has been convicted for corrupting a foreign public official, signaling increased scrutiny of the commodities sector.
- Anti-corruption advocates hailed the ruling as a historic step in Switzerland's fight against transnational corruption.
Foreign Policy 
Associated Press 
