United Kingdom: Serious Fraud Office obtains record GBP 281 million corporate penalty following UK conviction in relation to bribery in Africa

HENRY GARFIELD, CHARLES THOMSON AND ELEANOR WALLIS

Nov 9, 2022

United Kingdom: Serious Fraud Office obtains record GBP 281 million corporate penalty following UK conviction in relation to bribery in Africa

United Kingdom: Serious Fraud Office obtains record GBP 281 million corporate penalty following UK conviction in relation to bribery in Africa


In June 2022, Glencore, one of the world’s largest commodity traders, pleaded guilty to paying bribes to officials in three West African countries and for failing to prevent agents and employees from doing so in two other African countries. 

On 3 November 2022, Glencore was sentenced and ordered to pay a record amount of GBP 281 million (consisting of a GBP 182.9 million fine, a GBP 93.5 million confiscation order and GBP 4.5 million in respect of the Serious Fraud Office’s (SFO) costs).