The Swiss trial of Trafigura Group and its former Chief Working Officer Mike Wainwright on corruption costs has been scheduled for December — in a case that’s prone to shine a renewed mild on allegations of wrongdoing in commodity buying and selling.
The Swiss federal prosecutor’s workplace introduced the costs in opposition to Wainwright, Trafigura, and two different people late final 12 months. The web site of Switzerland’s Federal Legal Courtroom was not too long ago up to date to indicate that the trial is scheduled to run for seven days in early December, with an additional seven days proven as reserve dates.
It is going to be the primary time such a senior government at a commodity buying and selling agency has confronted trial on corruption costs. Wainwright spent his complete profession at Trafigura and for the previous decade was one of many high trio who ran the corporate, one of many world’s largest merchants of oil, fuel and metals, earlier than stepping down as COO final 12 months.
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A spokesperson for the Federal Legal Courtroom confirmed the trial date for the Trafigura case. A spokesperson for Trafigura declined to remark, whereas a lawyer for Wainwright didn’t instantly reply to requests for remark. Wainwright has denied the costs, whereas Trafigura — which pleaded responsible to separate corruption costs within the US in March — has mentioned it can defend itself in courtroom.
After they first introduced the case, the Swiss prosecutors alleged that Wainwright permitted financial institution transfers and money funds totaling round $5 million to the pinnacle of a unit of Angola’s state oil firm Sonangol between 2009 and 2011. The Angolan official was additionally charged, as was an middleman who was described as a former Trafigura worker.
The case is one in all a number of high-profile corruption circumstances to focus on particular person commodity merchants in current months. Earlier this month, the UK’s high fraud company charged Alex Beard, Glencore Plc’s former head of oil, and 4 different former staff with corruption. And a New York courtroom in February discovered former Vitol Group dealer Javier Aguilar responsible on three bribery and money-laundering costs after a seven-week trial.
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