The latter was allegedly hacked by North Korea in November 2014. In one instance, Trafigura successfully sued the BBC for libel over the allegation, and in others it was able to secure a retraction. The Office of the Attorney General in Switzerland began a criminal probe into an employee of Trafigura as part of a wider investigation into suspected corruption at Petrobras. Trafigura forced. Trafigura officials say the ship was carrying a cargo of gasoline and stopped in Abidjan to dispose the content of the ship's waste tanks, known as "slops. The goose that had been laying whatever was left of our golden eggs was already being torn apart by rivaling mafias from the inside and is now in serious peril with a new corruption lawsuit. 2 billion in payments to governments in 2015, a 24% drop from the year before, as lower oil prices and sharply. Merino also had an accusation of bribery confirmed by Judge Isabel Conejo. However, an out of court settlement requiring Trafigura to pay total 1. Trafigura is a leading international condensates trader, bringing a wide variety of grades to market in all parts of the world. The report showed that Glencore was owed $138 million, Vitol $198 million and Trafigura $53 million. Trafigura’s business in angola report of The berne Declaration__ february 2013 // 2 Despite having a double-digit growth rate for the past decade1, Angola remains one of the lowest placed coun-. It did not identify. Corruption is a major problem within. Opposition Leader Portia Simpson Miller and three of her former ministers are to appear in court tomorrow in relation to the ongoing corruption case against Dutch oil firm, Trafigura Beheer. The Office of the Attorney General in Switzerland had opened a criminal probe into an employee of Trafigura as part of a wider investigation into suspected corruption at Petrobras. The biggest independent oil and metals trading houses are facing bribery and corruption investigations in multiple jurisdictions. Transparency International's 2017 Corruption Perception Index ranks the Switzerland as the 5th least corrupt state out of 180 countries. Prosecutors on Friday alleged the. Read More Comments Off on Brazilian Prosecutor Links Trading Giants to Petrobras Corruption Scandal. In a bid to recover N24billion alleged to have been laundered by a British company, Trafigura Beeher B. Trafigura moves hedging out of Europe, leads U. In response to the investigation, Vitol expressed an intolerance for bribery and corruption. " The firm did not make Wainwright and Larocca available for comment and the two men did not respond emails from Reuters. Many companies create anti-corruption policies and practices primarily to convince law enforcement that they’re responsible players. Nice guys: collectively, Glencore, Vitol and Trafigura handle around 19m barrels of oil and petroleum products a day — more than 10 per cent of global demand. Federal prosecutors in Brazil have filed corruption charges against two former executives from commodities multinational Trafigura, a former executive at Petrobras and a middleman, over $1. From Infogalactic: the planetary knowledge core. Trafigura is one of the hidden companies that power the world economy, linking suppliers and consumers of raw materials. The rogue oil trader at the heart of the Enemalta oil bribery scandal was officially granted a Presidential Pardon yesterday after he agreed to a set of terms that include returning the proceeds. Trafigura is signing up to a global transparency drive that will disclose payments made by companies to oil-rich governments. 3m to officials at the Brazilian state oil company Petrobras, in return for oil deals at preferential rates. Global demand in electric cars is expected to hit new highs in 2018, as China, India and Norway take the lead with new government initiatives. Could Keppel have acted sooner in Petrobras bribery scandal. “Trafigura has a zero tolerance policy on bribery and corruption. 4 billion in 2017. 98bn) in oil-related payments to governments in 2013, as part of increased transparency by the third-largest independent oil trader. Trafigura, Glencore and Vitol have said they have a zero-tolerance policy on bribery and corruption. The 2006 Ivory Coast toxic waste dump was a health crisis in Ivory Coast in which a ship registered in Panama, the Probo Koala, chartered by the Singaporean-based oil and commodity shipping company Trafigura Beheer BV, offloaded toxic waste to an Ivorian waste handling company which disposed of it at the port of Abidjan. Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business. We aim to stop banks from financing harmful business activities and promote a banking sector that contributes to just societies and a healthy planet. UL] has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over accusations they bribed officials at state-run oil firm Petroleo Brasileiro. Receive daily email alerts, subscriber notes & personalize your experience. “Issues of Trafigura and the corruption which marred the awarding of the tender were made bare a long time ago and we wonder why ACC did not institute these investigations then. This is the man responsible for co-ordinating the defence and security sectors of the state. Enter Billy Rautenbach and his Green Fuel into the mix. 2 billion in payments to governments in 2015, a 24% drop from the year before, as lower oil prices and sharply. This means that only anti-bribery authorities (and perhaps investors) end up monitoring a company's practices. A lawyer for Herz did not respond to requests for comment on Facebook and LinkedIn. Trafigura press release (July 2019) | Trafigura. “Trafigura has a zero tolerance policy on bribery and corruption. Joining peers in a strong performance, the third-biggest independent oil trader. Connected to 2 Trafigura Beheer B. SÃO PAULO -- Brazil's sprawling Operation Car Wash corruption probe is investigating mining giant Glencore PLC, Trafigura Group and Vitol Group for allegedly paying millions of dollars in bribes to employees of Brazilian oil company Petróleo Brasileiro SA, or Petrobras, in return for better terms on trading contracts. In November 2014, under threat of legal proceedings by Amnesty International, the Environment Agency. The contracts replace a short-term marketing agreement with PMI. Global Sludge Ends in Tragedy for Ivory Coast By LYDIA POLGREEN and MARLISE SIMONS ABIDJAN, Ivory Coast, Sept. Trafigura has paid US$260 million (nearly £158million) in total but much of the money remains unaccounted for and thousands of victims have not received anything. UL] has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over accusations they bribed officials at state-run oil firm Petroleo Brasileiro. “Freedom gas” in Ukraine scrutinised amid US corruption allegations Updated: Sullom Voe workers reject EnQuest proposals to ‘restructure’ firm Rosneft, Trafigura said to near deal for $6. Many companies create anti-corruption policies and practices primarily to convince law enforcement that they're responsible players. 004 May 1st 2012 Trafigura Following Raffles Into Heart of Asian. View Charis Pengelly’s profile on LinkedIn, the world's largest professional community. Nov 08, 2018 · Oil trading firms with ties to UK named in Brazil's Car Wash corruption scandal This article is more than 11 months old Vitol, Glencore and Trafigura feature in report by campaign group Global Witness. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD136. A middleman in a graft scheme at Brazilian state oil company Petrobras has implicated the chairman of global energy trading firm Vitol in a | This page lets you view the selected news created by anyone. Marco Ferraz, a Trafigura board member from Argentina. " The firm did not make Wainwright and Larocca available for comment and the two men did not respond emails from Reuters. Brazil charges former Trafigura executives with corruption This article is more than 10 months old Bribes of more than $1. Dauphin, who stepped down as Trafigura CEO in 2014, died in 2015. By Jeffrey T. For now, Lourenço’s anti-corruption campaign is narrowly focused on a range of political and military targets that he can take on without triggering instability or threatening the interests of his key allies. Prosecutors said in a. Supriya has 3 jobs listed on their profile. Gunvor was founded in 2000 as a merchant of crude oil and oil products. SINGAPOREAN global commodities firm, Trafigura Group, has agreed to bail out the debt-ridden and broke Zimbabwe government with US$1,1 billion to pay off the World Bank’s arrears, the Zimbabwe Independent has established. corruption and violence over the. Portia, Former Ministers for court tomorrow in ongoing Trafigura corruption case The Gleaner - Opposition Leader Portia Simpson Miller and three of. Corruption is the symbol of loyalty to the ruling party, the People’s Movement for the Liberation of Angola (MPLA) and of servitude to José Eduardo dos Santos. Element Alpha SA is an independent oil trading firm founded in 2015. Trafigura’s business in angola report of The berne Declaration__ february 2013 // 2 Despite having a double-digit growth rate for the past decade1, Angola remains one of the lowest placed coun-. UL] and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian. The Office of the Attorney General in Switzerland had opened a criminal probe into an employee of Trafigura as part of a wider investigation into suspected corruption at Petrobras. 7 Million of Proceeds to Buy Home in Great Falls, Virginia. RIO DE JANEIRO/SAO PAULO (Reuters) - Leading global oil traders Vitol [VITOLV. Two former executives of Trafigura were charged with bribery. Malta has banned Trafigura from supplying oil pending investigation into corruption activities by the Company. Saturday, January 28, 2017. 7m) of bribes to the Brazilian state oil firm Petrobras, opening a fresh chapter in the Car Wash investigation that has rocked the country's establishment. Brazilian federal prosecutors on Friday filed corruption charges against two former executives of the oil trader Trafigura for allegedly paying at least $1. Heightened due diligence The problems with agents extend beyond the commodity trading industry. "Trafigura has a zero tolerance policy on bribery and corruption. Trafigura PH3 Ltd. A Trafigura is facing accusations that it used a Zanu-PF-linked local facilitator and partner to ‘capture’ exclusive fuel supply rights to Zimbabwe. A third-party organisation made a fraudulent claim against the funds which was upheld in the Ivorian Supreme Court, a decision the firm admitted was 'borne of corruption'. The Office of the Attorney General in Switzerland began a criminal probe into an employee of Trafigura as part of a wider investigation into suspected corruption at Petrobras. Spokesmen for Glencore and Trafigura declined to comment. " The firm did not make Wainwright and Larocca available for comment and the two men did not respond emails from Reuters. The company stated that the suggestion that its current management knew that payments to an intermediary would be used to make improper payments to employees of the Brazilian state-owned petroleum company is not correct, and that the company has a zero tolerance policy on bribery and corruption. Many companies create anti-corruption policies and practices primarily to convince law enforcement that they're responsible players. Recently both Vitol and Glencore carried out acquisitions involving gas distribution in Brazil. SÃO PAULO -- Brazil's sprawling Operation Car Wash corruption probe is investigating mining giant Glencore PLC, Trafigura Group and Vitol Group for allegedly paying millions of dollars in bribes to employees of Brazilian oil company Petróleo Brasileiro SA, or Petrobras, in return for better terms on trading contracts. However, according to Trafigura’s 2018 annual report, volumes of hydrocarbons handled for that year amounted to only 8. TRAFIGURA An article (Big profits from a very dirty business encourages corruption and broken treaties, News, July 18) referred to a serious incident of waste dumping in Abidjan in the Ivory Coast. Trafigura agrees to preserve email data of former executives charged in Brazil bribery case. BRASILIA/RIO DE JANEIRO (Reuters) - A middleman in a graft scheme at Brazilian state oil company Petrobras has implicated the chairman of global …. SINGAPORE (Reuters) - Commodity trader Trafigura’s exports of U. Prior to joining Trafigura, he founded the Asia Operations of Apollo Global Management. Zimbabwe: Corruption in Zimbabwe (Trafigura Special) 27-05-14 Photo: Zac Crockett/Global Journalist Journalists have been protesting for a free press since the rise of the Mugabe regime (file photo). Oslo, 18 November 2014 - Trafigura Beheer B. Brazilian federal prosecutors on Friday filed corruption charges against two former executives of the oil trader Trafigura for allegedly paying at least $1. A movement of sorts may also be underway among some national. The Global Corruption Report 2001 was published on 15 October 2001 and provides an overview of the state of corruption around the globe, covering the period from July 2000 to June 2001. Trafigura Beheer | Fortune. ” Ziv also denied any knowledge of Trafigura oil money being sent to the Green Horizon project. It did not identify. " The firm did not make Wainwright and Larocca available for comment and the two men did not respond emails from Reuters. It did not identify. Trafigura PH3 Ltd. However, according to Trafigura’s 2018 annual report, volumes of hydrocarbons handled for that year amounted to only 8. View Supriya Jaitapkar’s profile on LinkedIn, the world's largest professional community. The ruling on the application filed by lawyers representing former Prime Minister Portia Simpson Miller and four other People's National Party (PNP) members in the Trafigura case, who are seeking. The hearing was suspended amid chaotic scenes and protests from the minister's supporters. Trafigura to disclose oil payments to governments under new transparency policy. "Trafigura has a zero tolerance policy on bribery and corruption. “Trafigura has a zero tolerance policy on bribery and corruption. , an oil trading subsidiary of Trafigura Group Pte Ltd. A Vitol spokesman said the firm "has a zero tolerance policy in respect of bribery and corruption and will always cooperate fully with the relevant authorities in any jurisdiction in which it operates. Authorising the preventive arrests - ordered to prevent flight risk - Car Wash Judge Gabriela Hardt said in a November 31st preliminary ruling that emails suggested Ferraz, Magalhaes , Waters and Dauphin "in a conscious and voluntary way, used the criminal services of corruption and money. So Swiss banks and energy trading companies are a common denominator of most corruption scandals related to Venezuela, however Trafigura has some form protecting the corrupt through their excellent "relationship with the local authorities. This year Trafigura appointed the long-time head of the EITI as its chief spokesman. Claude Dauphin was a Marc Rich protege who spent a few months in an African prison while he was still a billionaire globe trotting around the world in a private jet. El archivo de documentos descalificados de wikileaks es una fuente de información para académicos, periodistas, políticos y hombres y mujeres en general,. The Law on Administrative Probity defines as an act of corruption, conducive to illegal enrichment, the receiving of economic advantage as commission, percentage, gratification or gift, in a. Vitol, rival oil traders in spotlight of Brazil bribery probe. " Story continues The firm did not make Wainwright and Larocca available for comment and the two men did not respond emails from. SAN JUAN, Puerto Rico (AP) — A federal control board overseeing Puerto Rico's finances filed a lawsuit on Sunday to recover what it called massive fraudulent payments made by the island's power company to fuel suppliers for more than a decade. However, according to Trafigura’s 2018 annual report, volumes of hydrocarbons handled for that year amounted to only 8. Trafigura wasn’t named in the sanctions documents and no evidence was found that the company was aware of the arms deal. General Kopelipa is one of the triumvirate that today dominates Angola's political economy, along with General Leopoldino Fragoso do Nascimento "Dino", the presidency's head of telecommunications, and Manuel Vicente, the chairman and CEO of the. Prosecutors said in a. News > Business > Business News China investigating Trafigura fraud claims. Trafigura was alleged to have shipped the untreated chemical waste to Côte d'Ivoire with knowledge that there were no facilities to treat it. Vitol SA, Glencore Plc and Mercuria Energy Group are also under investigation in Brazil. The suspension comes after 12 traders were charged as part of an alleged bribery scheme connected with the ongoing Operation Car Wash corruption and. " The firm did not make Wainwright and Larocca available for comment and the two men did not respond emails from Reuters. This business of going abroad to speak and engage foreign nations in the hope the sanctions will be removed is a sheer waste of time. This increases the dangers for Vitol, the world’s largest independent oil trader, and other major trading firms like Trafigura and Glencore, also ensnared in the case. IEnova and Trafigura Joint Venture to develop a Marine Terminal in Manzanillo Latin America , Latin America Legal Chronicle October 16, 2018 October 16, 2018 Ambrogio Visconti. Garfield Higgins. Trafigura agrees to preserve email data of former executives charged in Brazil bribery case. Mercuria makes strategic investments providing access to key infrastructure and physical commodity markets. The case is a painful but vital reminder that the world’s efforts to stamp out corruption in the gas, oil and mining industries still carry crucial blind spots. The five groups must submit plans for the terminals to the ministry of ports and shipping by Nov. News > Business > Business News China investigating Trafigura fraud claims. The Constitutional Court on Friday ruled that there are no constitutional grounds that would prevent Mrs. Dauphin, who stepped down as Trafigura CEO in 2014, died in 2015. In August 2010, President José Eduardo dos Santos authorized a total of five investment contracts worth US$ 931 million,. Zimbabwe: Corruption in Zimbabwe (Trafigura Special) 27-05-14 Photo: Zac Crockett/Global Journalist Journalists have been protesting for a free press since the rise of the Mugabe regime (file photo). IEnova and Trafigura Joint Venture to develop a Marine Terminal in Manzanillo Latin America , Latin America Legal Chronicle October 16, 2018 October 16, 2018 Ambrogio Visconti. The Trafigura corruption matter has been running from 2006, when the then Jamaica Labour Party (JLP) leader Bruce Golding broke the story in dramatic fashion. The move is part. Brazilian authorities are investigating them and rival Glencore for allegedly paying bribes totalling $15. The Office of the Attorney General in Switzerland began a criminal probe into an employee of Trafigura as part of a wider investigation into suspected corruption at Petrobras. Teaming up with Trafigura will accelerate our growth and ability to expand our trading reach globally,” Jeff McNear, President of the Altis Group International management team, explained. He, as the supreme leader, is the principal enabler and beneficiary of corruption. Commodities trader Trafigura [TRAFGF. The Gunvor S. The suspension comes after 12 traders were charged as part of an alleged bribery scheme connected with the ongoing Operation Car Wash corruption and. It did not identify. "Any suggestion that Trafigura's current management knew that its payments would be used to make improper payments to employees of Petrobras is not correct," the statement said. The Metropolitan Police never responded despite voicemails and further correspondence. The move by Trafigura follows a series of corruption investigations and allegations involving intermediaries and middlemen that have caused alarm at the highest levels of the commodity. Nov 16, 2015 · Trafigura Pte Ltd. This is good news for our cause: if corruption justifies an investigation, the Public Prosecutor has no choice but to prosecute Trafigura for the environmental and human disaster it caused in Côte d'Ivoire. Trafigura agrees to preserve email data of former executives charged in Brazil bribery case. L) and Mercuria Energy Group are also under investigation. Trafigura’s actions include buying oil from countries where corruption is extensive, acting as go-betweens to sell oil to mainstream US refiners from pariah states which back terrorism and engage in genocide, and sanctions-. 98bn) in oil-related payments to governments in 2013, as part of increased transparency by the third-largest independent oil trader. The ghost of Trafigura returns. Regional Compliance Manager for Central and South America. This is the man responsible for co-ordinating the defence and security sectors of the state. Arrest warrants were issued for 11 suspects. Lagos — France's oil giant Total and international trading firms Trafigura and Vitol were among 21 companies handed crude oil term lifting contracts for 2016 by state oil firm Nigerian National Petroleum Corp, NNPC said Thursday. Dauphin, who stepped down as Trafigura CEO in 2014, died in 2015. Glencore said it takes ethics and compliance seriously. " The firm did not make Wainwright and Larocca available for comment and the two men did not respond emails from Reuters. The Gunvor S. The biggest independent oil and metals trading houses are facing bribery and corruption investigations in multiple jurisdictions. Lawsuit targets alleged Puerto Rico power company corruption By DÁNICA COTO June 30, 2019 SAN JUAN, Puerto Rico (AP) — A federal control board overseeing Puerto Rico’s finances filed a lawsuit on Sunday to recover what it called massive fraudulent payments made by the island’s power company to fuel suppliers for more than a decade. Spokesmen for Glencore and Trafigura declined to comment. # Glencore , among others, was also involved. The probe marked a new phase in Operation Car Wash, an anti-corruption investigation opened in 2014 that. French oil company Total and Swiss oil-trading company Vitol have been fined for corruption by a French court in relation to Iraq’s oil-for-food program. "Trafigura has a zero tolerance policy on bribery and corruption. Companies such as Vitol and Trafigura managed to get a head start on other parties for a fee. Element Alpha SA is an independent oil trading firm founded in 2015. Here in Jamaica, the 2006 Trafigura scandal, involving a Dutch company that lifted Nigerian oil to Jamaica, continues to haunt five members of the People's National Party, who have taken their appeal to the UK Privy Council in a last-ditch attempt to. " The firm did not make Wainwright and Larocca available for comment and the two men did not respond emails from Reuters. The Swiss commodity traders Trafigura and Vitol are among a number of companies accused of exporting what campaigners call “African quality” diesel, blending products in European facilities to create fuels with sulphur levels that are sometimes hundreds of times over European limits, according to a three-year research project by the Swiss NGO Public Eye. "It's the largest corruption scandal in the history of Puerto Rico,'' said Senator Eduardo Bhatia, who served on a commission that investigated the utility's fuel purchases in 2016. SINGAPORE (Reuters) - Commodity trader Trafigura’s exports of U. 5m allegedly paid in bribes over oil buying and selling operations. The contracts replace a short-term marketing agreement with PMI. Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business. 5 million in bribes to employees of. “Trafigura knew that the inspection agent in charge of Nadabo’s products was Q and Q, when the issues regarding the cargo were raised by Q and Q to the fourth to sixth defendants, they started avoiding Q and Q as well as Spring Bank,” the witness said. 5m (£875,000) in bribes to employees of. As regards the claims against Shell Nigeria, these were dismissed for the oil spills in 2004 and 2005. Lausanne/Zurich, 03. SAO PAULO (Reuters) - Commodities trader Trafigura [TRAFGF. corruption and violence over the. Portia, Former Ministers for court tomorrow in ongoing Trafigura corruption case The Gleaner - Opposition Leader Portia Simpson Miller and three of. d: We depend on the generous support of readers like you to help us expose corruption and hold the. "Trafigura has a zero tolerance policy on bribery and corruption. Vitol, Glencore and Trafigura feature in report by campaign group Global WitnessThree global oil trading companies with strong ties to the UK face being dragged into Brazil’s “Car Wash” investigation, after a report raised questions about their connections to businessmen named in the vast corruption scandal. 5 million in bribes to employees of Petrobras. (Financial Times) (Financial Times) General Anti-Corruption:. Trafigura, Mercuria and Vitol said they have a zero-tolerance policy for bribery and corruption. The move is part of a wider crackdown on corruption by the Caracas government, which has so far led to the imprisonment of tens of PDVSA employees, which critics, according to Reuters, have dismissed as score-settling by the ruling party rather than any attempt to deal with corruption. Trafigura is signing up to a global transparency drive that will disclose payments made by companies to oil-rich governments. Brazilian prosecutors have charged two former executives of Trafigura with corruption as part of a wider investigation into international commodities traders. Amity Shlaes is the author of "The Forgotten Man: A New History of the Great Depression" and a senior fellow at the Council on Foreign Relations. A Trafigura is facing accusations that it used a Zanu-PF-linked local facilitator and partner to ‘capture’ exclusive fuel supply rights to Zimbabwe. Trafigura declined to comment on the specific project but said it was "committed to grow and expand its existing regas (regasification) capacity" in Pakistan. S Justice Department Investigating Trading Firm Trafigura It’s being described as one of the biggest business scandals in Brazilian history. BP operates in parts of the world where bribery and corruption present a high risk. Brazil has opened an investigation into commodity trading groups Glencore, Vitol and Trafigura over alleged bribery of employees at state-run oil company Petrobras, prosecutors said Wednesday. Not coconut oil or olive oil, of course. TRAFIGURA An article (Big profits from a very dirty business encourages corruption and broken treaties, News, July 18) referred to a serious incident of waste dumping in Abidjan in the Ivory Coast. CTRM Community > Brazil charges ex-Trafigura executives with corruption About the Community CTRM Community – a collection of RSS feeds from blogs and web pages of vendors, service providers and associations across the commodity trading industry. Petrobras Thursday said it has temporarily suspended oil and refined products trading activities with commodities giants Vitol, Trafigura and Glencore. The oil trader Trafigura registered in the Netherlands in 2015, has become the second largest foreign buyer of Rosneft's oil, experts say. 4 million, 38 million euros) to 30,000 people. The move is part. January, 11 2019 (Reuters) SAO PAULO (Reuters) - Commodities trader Trafigura [TRAFGF. The suspension comes after 12 traders were charged as part of an alleged bribery scheme connected with the ongoing Operation Car Wash corruption and. 49% of Nigerian crude oil exports in. Last week, a new tender was held and while the proposals from the only two participants did not have the proper electronic signatures, the CNH chose Trafigura as the winner. They need to fight corruption were ever it raises it's ugly head. Zambia's justice minister, Wynter Kabimba, was on Monday called in front of the country's anti-corruption commission to respond to allegations that Trafigura paid his company, Midland Energy Zambia, to secure a petrol- and diesel-supply deal. " The firm did not make Wainwright and Larocca available for comment and the two men did not respond emails from Reuters. UL] has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over accusations they bribed officials at state-run oil firm Petroleo Brasileiro. For now, Lourenço’s anti-corruption campaign is narrowly focused on a range of political and military targets that he can take on without triggering instability or threatening the interests of his key allies. Leslie has 1 job listed on their profile. A third-party organisation made a fraudulent claim against the funds which was upheld in the Ivorian Supreme Court, a decision the firm admitted was 'borne of corruption'. Zimbabwe: Corruption in Zimbabwe (Trafigura Special) 27-05-14 Photo: Zac Crockett/Global Journalist Journalists have been protesting for a free press since the rise of the Mugabe regime (file photo). Trafigura sources, stores, blends and transports raw materials including oil, refined petroleum products and non-ferrous metals (iron ore and coal). Lawsuit targets alleged Puerto Rico power company corruption. CNBC’s unprecedented original primetime series, “American Greed,” takes you inside the scams, schemes and broken dreams…revealing the amazing real-life stories of how some people will do anything for money. Trafigura and UGDC had reached an understanding on the cooperation agreement last year but could not actualise it for want of an LNG supply and import arrangement. Brazilian federal. Trafigura's founder, Claude Dauphin, who passed away in 2015, had made the continent one of his favourite hunting grounds after leaving Marc Rich's firm in 1992. , among others, was also involved. We should not allow the reality of corruption to distract us from this central issue. Trafigura: Corruption in Zambia. LEGAL REMEDIES FOR GRAND CORRUPTION. The media have linked Trafigura to corruption scandals such as the Oil for Food Programme in Iraq, as well as to incidents that have had serious consequences for human health and the. Trafigura’s decision to publicly announce its new policy is another small step forward. The Public Prosecutor has said that a thorough investigation is needed. Nice guys: collectively, Glencore, Vitol and Trafigura handle around 19m barrels of oil and petroleum products a day — more than 10 per cent of global demand. Trafigura acknowledges the relationship on its website, but its secret control of all of Angola’s railway structure was not previously known. The pipeline cartel controls ZUVA, and PUMA Zimbabwe is a marriage between Tagwireyi’s Sakunda fuel outlets and Trafigura’s global fuel retailing franchise PUMA (no relation of course to the German sportswear manufacturer using the same name). UL] has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over accusations they bribed officials at state-run oil firm Petroleo Brasileiro. The port is said to have the capacity to mobilise 100,000 containers per year, but, as far as we are aware, there has been no significant movement of containers. Trafigura Beheer | Fortune. Heightened due diligence The problems with agents extend beyond the commodity trading industry. "Trafigura has a zero tolerance policy on bribery and corruption. " Trafigura says the waste disposed in Abidjan was a mix of gasoline residues, water and caustic sodas used to clean slops. Trafigura sources, stores, blends and transports raw materials including oil, refined petroleum products and non-ferrous metals (iron ore and coal). Trafigura's business in angola report of The berne Declaration__ february 2013 // 2 Despite having a double-digit growth rate for the past decade1, Angola remains one of the lowest placed coun-. " Ziv also denied any knowledge of Trafigura oil money being sent to the Green Horizon project. Trafigura president Claude Dauphin, who in August paid a visit to Prime Minister Portia Simpson Miller at Jamaica House before his company controversially transferred over $31 million to the People’s National Party, is a man steeped in the art of expensive gift giving. In the arrangement, Total will supply Angola with petrol or gasoline while Trafigura will supply diesel and marine diesel. We aim to stop banks from financing harmful business activities and promote a banking sector that contributes to just societies and a healthy planet. Trafigura, one of the world’s biggest commodity traders, is to stop using intermediaries — the well-connected individuals who help set up contracts in resource-rich countries. TRAFIGURA An article (Big profits from a very dirty business encourages corruption and broken treaties, News, July 18) referred to a serious incident of waste dumping in Abidjan in the Ivory Coast. 4 billion in 2017. Dauphin, who stepped down as Trafigura CEO in 2014, died in 2015. Trafigura ends use of middlemen after corruption probes July 14, 2019 International homepage US Business Relationships with well-connected individuals have become focus for regulators. Jonathan Castelan, a partner in Latham & Watkins’ Houston office and a member of the firm’s Corporate Department, focuses his practice on acquisitions, divestitures, and strategic joint ventures involving upstream and midstream energy assets, as well as EPC projects. okay, let me go along with you, so corruption of trafigura disgust you but corruption of the JLP palatable? You know the ppl kick out the PNP and the JLP start corruption from day 1 in 2016, it look bad don't?. 14 (UPI) --Oil trader Trafigura Group said it was leading the industry in transparency initiatives by disclosing how much money it paid to governments last year. SAO PAULO (Reuters) - Commodities trader Trafigura [TRAFGF. January, 11 2019 (Reuters) SAO PAULO (Reuters) - Commodities trader Trafigura [TRAFGF. The Office of the Attorney General in Switzerland began a criminal probe into an employee of Trafigura as part of a wider investigation into suspected corruption at Petrobras. News > Business > Business News China investigating Trafigura fraud claims. Public disclosures are complex and vary from company to company, which is why FCPA Tracker’s expertise is essential. Based in Amsterdam, Trafigura Beheer BV is the mother company of a holding constituted by several subsidiaries operating across the globe. Zambia´s president, Michael Sata, ultimately ordered. Brazilian prosecutors on Friday charged two former executives of oil trader Trafigura over allegations of paying at least US$ 1. Kudakwashe Tagwirei is a Zimbabwean commodities business person with extensive interests in the energy sector. Trafigura agrees to preserve email data of former executives charged in Brazil bribery case. Brazil has opened an investigation into commodity trading groups Glencore, Vitol and Trafigura over alleged bribery of employees at state-run oil company Petrobras, prosecutors said Wednesday. Malta police last week arrested and started prosecuting former Energy authority Chairman Tancred Tabone and his adviser Frank Sammut accused of bribery, corruption and money laundering in the procument of oil. "Trafigura has a zero tolerance policy on bribery and corruption. Technically, Trafigura's liability for the slops ended as the slops passed through the discharge flange of the vessel. Lava Jato (“Operation Wash”) Investigation – Representing Trafigura, the world’s third largest commodity trading company, in connection with allegations that a member of its management board was involved in bribery and money laundering at Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras). “The new global venture with Trafigura will be transformative not only for Altis and its employees but for all of our commercial partners. Multinational trading company Trafigura, implicated in a bribery scheme with Brazilian state-controlled oil giant Petrobras, has told Brazilian authorities it can't disclose the contents of emails of two former officials of the company to the courts because doing so could violate European data protection laws, according to court filings. He has no behaviour, and is allowed to get away with it. And for them, Brazil is just one of hundreds of bribe/corruption station. The 2006 Ivory Coast toxic waste dump was a health crisis in Ivory Coast in which a ship registered in Panama, the Probo Koala, chartered by the Singaporean-based oil and commodity shipping company Trafigura Beheer BV, offloaded toxic waste to an Ivorian waste handling company which disposed of it at the port of Abidjan. Dec 14, 2018 · Federal prosecutors in Brazil have filed corruption charges against two former executives from commodities multinational Trafigura, a former executive at Petrobras and a middleman, over $1. Prosecutors on Friday alleged the. “Swiss corruption measures are not effective,” last year, organisations, Glencore and Trafigura have not accused the government to be in the slush Fund affair involved. Nice guys: collectively, Glencore, Vitol and Trafigura handle around 19m barrels of oil and petroleum products a day — more than 10 per cent of global demand. The contracts replace a short-term marketing agreement with PMI. SINGAPOREAN global commodities firm, Trafigura Group, has agreed to bail out the debt-ridden and broke Zimbabwe government with US$1,1 billion to pay off the World Bank’s arrears, the Zimbabwe Independent has established. Trafigura is currently under investigation by the Dutch authorities over an alleged bribe of. December, 7 2018 (The Guardian) Commodity traders Glencore, Vitol and Trafigura are under investigation on suspicion of paying more than $15m (£11. However, an out of court settlement requiring Trafigura to pay total 1. Trafigura is the third-largest physical commodities trading group in the world behind Vitol and Glencore. He's the founder and current Chief Executive Officer of Sakunda Holdings Group. Many companies create anti-corruption policies and practices primarily to convince law enforcement that they’re responsible players. ” The firm did not make Wainwright and Larocca available for comment and the two men did not respond emails from Reuters. The Office of the Attorney General in Switzerland began a criminal probe into an employee of Trafigura as part of a wider investigation into suspected corruption at Petrobras. SAO PAULO (Reuters) - Commodities trader Trafigura [TRAFGF. The court considered a crucial factor that the oil spills were not caused by defective maintenance by Shell Nigeria but rather by third parties, as they were the result of sabotage (which is apparently very common in Nigeria). Kudakwashe Tagwirei is a Zimbabwean commodities business person with extensive interests in the energy sector. We have established a unique market position in the United States, currently one of the most dynamic regions in the global hydrocarbons industry. NNPC by law manages the joint venture between the Nigerian federal government and a number of foreign multinational corporations, which include Royal Dutch Shell, Agip, ExxonMobil, Total S. Trafigura and UGDC had reached an understanding on the cooperation agreement last year but could not actualise it for want of an LNG supply and import arrangement. Trafigura 2. Lawsuit targets alleged Puerto Rico power company corruption By DÁNICA COTO June 30, 2019 SAN JUAN, Puerto Rico (AP) — A federal control board overseeing Puerto Rico's finances filed a lawsuit on Sunday to recover what it called massive fraudulent payments made by the island's power company to fuel suppliers for more than a decade. The privately owned company, which trades more than 5. Venezuelan state oil company PDVSA has sued a group of oil trading companies through a U. Zambia's justice minister, Wynter Kabimba, was on Monday called in front of the country's anti-corruption commission to respond to allegations that Trafigura paid his company, Midland Energy Zambia, to secure a petrol- and diesel-supply deal. May 31, 2018 · Trafigura is one of the hidden companies that power the world economy, linking suppliers and consumers of raw materials. Could Keppel have acted sooner in Petrobras bribery scandal. 5m barrels, just 30% of the original estimated capacity. "The new global venture with Trafigura will be transformative not only for Altis and its employees but for all of our commercial partners. Our policy framework encompasses our values, Code of Conduct and policies, procedures and guidelines on various compliance topics including anti-corruption, sanctions, anti-money laundering, the prevention of fraud, market abuse, the prevention of the facilitation of tax evasion, competition law, data protection and conflicts of interest. Oil trading firms with ties to UK named in Brazil's Car Wash corruption scandal This article is more than 11 months old Vitol, Glencore and Trafigura feature in report by campaign group Global Witness. "There are indications that the crimes were being practiced to date, as the investigation covers two other Petrobras employees who were still working at the state oil. Multinational companies regularly hire agents and fixers to help them win lucrative business in complex or unfamiliar environments. Former Haitian dictator Jean-Claude Duvalier, also known as Baby Doc, has spoken publicly for the first time since he returned to his homeland after 25 years in exile. "Angola is incredibly compelling from a human rights point of view partly because of the corruption and the fact that this is a government that has the resources to respond to the. Separately, Reuters reported that the plea bargain of a middleman tied to a corruption scheme at state oil company Petrobras has implicated a number of executives at the company and at commodities trading companies Trafigura and Vitol. The corruption of Zimbabwe's fuel industry October 28, 2019 newsdesk 1 Comment featured , fuel monopoly , fuel prices , kudagwashe tagwireyi , Opinion , trafigura ZIMBABWE'S fuel is being sourced exclusively through Trafigura, the Singapore-based commodity brokerage firm with ties to Sakunda Holdings. 5 for approval, but cabinet has already approved them, Khan said, adding they could be in. The media have linked Trafigura to corruption scandals such as the Oil for Food Programme in Iraq, as well as to incidents that have had serious consequences for human health and the. Brazilian federal prosecutorson Friday filed corruption charges against two former executivesof the oil trader Trafigura for allegedly paying atleast $1. In December, Trafigura faced unwelcome scrutiny when it was drawn into an expanding corruption probe by authorities in Brazil into past dealings between commodities traders and the Brazilian state. Portia, Former Ministers for court tomorrow in ongoing Trafigura corruption case The Gleaner - Opposition Leader Portia Simpson Miller and three of. The compilation of evidence against Frank Sammut, former CEO of Enemalta’s oil bunkering subsidiary, MOBC, who is accused of money laundering, corruption and for accepting commissions on oil. They also show that the government then transferred nearly the same amount to Global CST, the sanctioned Israeli company. Trafigura president Claude Dauphin, who in August paid a visit to Prime Minister Portia Simpson Miller at Jamaica House before his company controversially transferred over $31 million to the People's National Party, is a man steeped in the art of expensive gift giving. 3 million euros ($1. Trafigura had commissioned a scientific report called the Minton Report which showed the shocking scale of medical problems caused by the dumping of waste in the Ivory Coast in 2006. Trafigura and the Angolan Presidential Mafia. trust over a multi-billion dollar corruption scheme to buy petroleum products below market value, the. The falls and their famous spray clouds are 1. State-owned Pakistan LNG has named a new chief executive officer following the resignation of former CEO Adnan Gilani. Brazilian prosecutors allege corruption took place on U. This business of going abroad to speak and engage foreign nations in the hope the sanctions will be removed is a sheer waste of time.