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Trafigura and Ex-COO Guilty of $5M Bribery Scheme

1/31/2025

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Summary

Story summary

Switzerland's top criminal court has found trading giant Trafigura and ex-COO Mike Wainwright guilty of corruption, linked to over $5 million in bribes to an Angolan official for lucrative oil contracts. Trafigura faces a hefty fine of 3 million Swiss francs and must pay $145.6 million in compensation, while Wainwright is sentenced to 32 months in prison, with 12 months to serve as he appeals.

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Story summary

Switzerland's top criminal court has found trading giant Trafigura and ex-COO Mike Wainwright guilty of corruption, linked to over $5 million in bribes to an Angolan official for lucrative oil contracts. Trafigura faces a hefty fine of 3 million Swiss francs and must pay $145.6 million in compensation, while Wainwright is sentenced to 32 months in prison, with 12 months to serve as he appeals.