Swiss Attorney General Files Indictment Against Trafigura and Three Individuals in Angola Money Laundering and Bribery Case
Overview
- Switzerland’s Office of the Attorney General (OAG) files indictment against Trafigura Beheer BV (TBBV) and three individuals.
- This is the first time the Federal Criminal Court investigates a company’s criminal liability for bribery of foreign public officials.
Background
- Allegations of bribery of foreign public officials and money laundering uncovered in July 2020.
- TBBV and three individuals targeted in extended investigation in 2021 and March 2023.
- Trafigura Group operated in Angola from 2009 to 2011, primarily in ship chartering and bunkering sectors.
Details of the Case
- Former Angolan public official allegedly took bribes worth €4.3 million (CHF4.6 million) and $604,000 (CHF528,077).
- Trafigura Group allegedly paid these bribes to secure favors for ship chartering and bunkering activities.
- Generated profits around $143.7 million for the Trafigura Group.
Charges against TBBV
- TBBV, headquartered in the Netherlands, accused of not implementing adequate anti-bribery and corruption controls.
- The company denies the accusations and will defend itself in court.
- From April 2009 to October 2011, TBBV operated in Angola through branches in Geneva and Lucerne.
- The Trafigura Group favored the Angolan government and its subsidiaries, such as Sonangol EP.
- Various forms of illicit payments, including bank transfers, cash payments, and expenses, described in the case.
Response from Trafigura Group
- Company acknowledges investigations related to a former employee’s statements as part of a separate case in Brazil.
- Anticipates settling US Department of Justice investigation regarding improper payments made in Brazil.
- Disclosed a provision of $127 million related to the period in question.