Trafigura Appeals Swiss Conviction Over Bribery Controls

Commodity trading house Trafigura appealed a landmark Swiss court decision that found it guilty of not having sufficient systems in place to prevent bribery.

In January, the company it’s former chief operating officer, and Mike Wainwright, were convicted on bribery charges, after a high profile court case that centered on allegations that Trafigura bribed an Angolan official with cash gifts in return for lucrative contracts from 2009 and 2011.

The trial and judgment were seminal moments for Switzerland, a global hub of commodities trading. While the payment of bribes in the industry has been well documented for decades, no ...