Trafigura, a commodities trading company, has pleaded guilty to violating the Foreign Corrupt Practices Act (FCPA) and will pay over $126 million in fines. The company was involved in a scheme to bribe Brazilian officials to secure business with Petrobras, Brazil’s state-owned oil company. Trafigura profited approximately $61 million from the corrupt scheme, which involved making bribe payments and concealing them through shell companies and offshore bank accounts. The company has cooperated with the investigation and implemented remedial measures, but its prior misconduct and initial lack of cooperation resulted in a significant fine. The FBI’s Los Angeles Field Office is investigating the case, with assistance from the International Corruption Unit.
Trafigura, a commodities trading company, pleaded guilty to violating the Foreign Corrupt Practices Act (FCPA) and will pay over $126 million in fines. The company was involved in a scheme to bribe Brazilian officials to secure business with Petrobras, Brazil’s state-owned oil company, profiting approximately $61 million. Trafigura cooperated with the investigation but its prior misconduct led to a significant fine.
Trafigura, a commodities trading company, has pleaded guilty to violating the Foreign Corrupt Practices Act (FCPA) and will pay over $126 million in fines. The company was involved in a scheme to bribe Brazilian officials to secure business with Petrobras, Brazil’s state-owned oil company. Trafigura profited approximately $61 million from the corrupt scheme, which involved making bribe payments and concealing them through shell companies and offshore bank accounts. The company has cooperated with the investigation and implemented remedial measures, but its prior misconduct and initial lack of cooperation resulted in a significant fine. The FBI’s Los Angeles Field Office is investigating the case, with assistance from the International Corruption Unit.
