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Trafigura's legal attempt to dismiss evidence from star witness Mariano Marcondes Ferraz in a Swiss bribery trial was rejected by judges in Bellinzona. The case marks a historic moment as it is the first time a commodity trading company faces corruption charges in Switzerland, with allegations of over €5mn paid to an Angolan official for oil shipment rights. The trial will proceed, with the credibility of Ferraz's testimony assessed on its merits, despite arguments regarding a potential illegal plea bargain and the death of Trafigura's former CEO, Claude Dauphin.
Trafigura and three defendants, including former executive Mike Wainwright, are on trial in Switzerland for allegedly paying over $5 million in bribes to an Angolan oil official between 2009 and 2011. The case marks a significant legal precedent regarding corporate liability for foreign bribery. Prosecutors claim the bribery facilitated $143.7 million in profits for Trafigura, while the company maintains its compliance measures were adequate at the time.
Trafigura is on trial in Bellinzona for alleged bribery involving an Angolan official, with former executive Mike Wainwright implicated. The case, stemming from a whistleblower's testimony, threatens the reputation of the company's late founder, Claude Dauphin, as it highlights past corruption in the commodities sector. Trafigura denies wrongdoing, asserting its compliance measures were adequate.
Swiss prosecutors have charged Trafigura with paying nearly €5 million in bribes to Angolan official Paulo Gouveia Junior between 2009 and 2011, alleging a conspiracy involving senior executives, including former COO Mike Wainwright. The indictment claims the scheme was orchestrated by the late Trafigura founder Claude Dauphin, with payments managed from the top, including luxury accommodations for Gouveia. The trial is set to begin on December 2 in Bellinzona, Switzerland.
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trafigura faces bribery trial as key witness testimony is upheld in switzerland
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