Multinational companies regularly hire agents and fixers to help them win lucrative business in complex or unfamiliar environments. These intermediaries, who include both established firms and well-connected individuals, provide introductions to decision-makers, intelligence on how to secure a contract, and an on-the-ground presence in far-flung lands.… Continue Reading
A former Geneva-based oil trader was given an 18-month suspended sentence for bribing officials in Africa in exchange for oil shipments.
Pascal Collard, a Belgian with Swiss residence, admitted bribing officials in the Congo and Ivory Coast.… Continue Reading
The oil sector is well known for its corruption risks, but one corner of the industry has received less attention than it deserves: commodity trading.
Companies that engage in physical commodity trading, including such giants as Glencore, Trafigura, Gunvor and Vitol, often compete for high-value deals buying and selling oil and other commodities from governments, including those in countries where corruption is widespread.… Continue Reading