Glencore settles bribery and market manipulation charges in US, UK, Brazil
Short record: the main facts, with sources. A full case file has not been prepared.
- The record does not name which of my species, waters, soils or forests were harmed.
Glencore admitted bribery and market manipulation charges in the US, UK and Brazil in 2022, agreeing penalties of up to 1.1 billion dollars. Six former employees face a UK trial, now postponed to October 2027.
- Glencore — Net profit of 17.3 billion dollars in 2022, with 7.1 billion dollars paid to shareholders Kitco
What happened
In May 2022 Glencore admitted bribery and market manipulation charges in the United States, the United Kingdom and Brazil, with penalties of up to 1.1 billion dollars, OCCRP reported.
The bribes were recorded in seven countries: Nigeria, Cameroon, Ivory Coast, Equatorial Guinea, the Democratic Republic of the Congo, Venezuela and Brazil.
Glencore's 2022 net profit was 17.3 billion dollars, up 248%, with 7.1 billion dollars paid to shareholders, Kitco reported.
The UK Serious Fraud Office case against six former employees, over conduct between 2007 and 2014, has been postponed to October 2027; four defendants deny the charges.
In court and with insurers
Lawsuits and rulings
- 2022-05-24Guilty pleaBribery and market manipulation charges (US, UK, Brazil)Authorities in the US, UK and Brazil (not named in the sources reviewed) · Criminal · Prosecuting authorities in the US, UK and Brazil → Glencore
Glencore admitted the charges; penalties of up to 1.1 billion dollars were reported by OCCRP on 25 May 2022. OCCRP
- OngoingUK Serious Fraud Office case against former Glencore employeesEngland (Serious Fraud Office prosecution) · Criminal · UK Serious Fraud Office → Six former Glencore employees
Charges concern conduct in Cameroon, Nigeria and Ivory Coast in 2007–2014. The trial was postponed to October 2027; four defendants deny the charges. UK Serious Fraud Office (gov.uk)
Insurers
What we don't know
Nature
- Not measured Harm to nature: The record holds no measurement of harm to nature.
Record
- None on record The sources reviewed do not say which mining licences or contracts the bribes were paid to obtain.
- None on record No personal prosecution of senior management is recorded in the sources reviewed.
- None on record The sources reviewed do not say whether the penalties have been paid in full.
Did the harm stop?
Not stated in the sources reviewed.
Who paid?
Not stated in the sources reviewed.
Sources
Press and investigations
- Glencore settles bribery charges in the US, UK, BrazilOCCRP · 2022-05-25
- Glencore employees (SFO case page)UK Serious Fraud Office (gov.uk) · 2024-10
Connected cases
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- Pilbara Minerals' profit fell sharply as lithium prices slumped; Li-Cycle went bankrupt Australia · 2024–2025
- Glencore (Company) — here: Admitted bribery and market manipulation charges (2022); there: acquirer of Li-Cycle assets
- The Metals Company deep-sea nodule mining in the Clarion-Clipperton Zone (NOAA permit route) International waters (Pacific Ocean) · 2011
- Glencore (Company) — here: Admitted bribery and market manipulation charges (2022); there: Holder of a right to half of NORI-area nickel and copper