Glencore probed by U.S. CFTC for ‘corrupt practices’
26 Apr 2019

Glencore Plc said on Thursday that the U.S Commodity Futures Trading Commission (CFTC) is investigating whether the miner and its units may have violated certain regulations through “corrupt practices”.

The company said the investigations are at an early stage and have a similar scope in terms of subject matter as a current investigation by the U.S. Department of Justice.

Swiss-based Glencore said last July it received a subpoena from the DoJ requesting documents and records on compliance with the U.S. Foreign Corrupt Practices Act and money-laundering statutes.

The documents related to the company’s business in the Democratic Republic of Congo, Venezuela and Nigeria.

By Justin George Varghese, Reuters, 25 April 2019

Read more at Reuters

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