Multinational Faces Swiss Criminal Trial Over Angola Bribery Claims

Switzerland has initiated a landmark criminal trial against Trafigura Group, a multinational commodities trader, on charges of bribing a foreign official to secure oil contracts in Angola. The case involves alleged payments of $5 million to an Angolan state oil company employee, amid renewed bribery allegations in the sector.

In a landmark case for Switzerland, Trafigura Group, a major multinational commodities trader, faces a criminal trial. The company is charged with bribing a foreign public official to acquire oil industry contracts in Angola through payments allegedly totaling $5 million.

This case highlights renewed allegations of corruption within the commodities trading sector, also involving other industry giants like Swiss-based Glencore and Cyprus-based Gunvor.

The trial began at the Swiss federal criminal court in Bellinzona and is expected to continue until December 20, potentially extending into January. Trafigura has emphasized its commitment to compliance, asserting the defendants' presumption of innocence as proceedings unfold.

(With inputs from agencies.)