Print Article

JERSEY headquartered subsidiary pleads guilty to $28m (£22.8m) bribery charges  


Glencore, the London Stock Exchange-listed and Jersey-headquartered UK subsidiary, pleaded guilty to UK bribery charges on 21 June 2022

A British subsidiary of the mining firm Glencore has pleaded guilty in a UK court to corruption offences for the second time in the last two months

  • Evidence revealed bribes of $28m (£22.8m) [approx.] via the Swiss-based firm's employees and agents.

The bribery charges stated that the firm's aim was for officials to

  • "Perform their functions improperly, or reward them for so doing, by unduly favouring Glencore Energy UK Limited in
    • The allocation of crude oil cargoes,
    • The dates crude oil would be lifted and
    • The grades of crude oil allocated"...

The British subsidiary of the firm formally pleaded guilty on

  • Seven counts of bribery in connection with oil operations in Nigeria, Cameroon, Equatorial Guinea, Ivory Coast and South Sudan on Tuesday in Southwark Crown Court.

It also still faces investigations in Switzerland and the Netherlands.

Spotlight on Corruption, a pressure group, said

  • The charges were "hugely significant" but raised "questions about the SFO's ambition as our elite corruption-busting agency".

The NGO's legal researcher, Helen Taylor, explained

  • that although Glencore is listed on the London Stock Exchange and headquartered in Jersey, the SFO had "only pursued" the UK subsidiary's oil operations in a handful of African countries.

  • "This is low-hanging fruit, given the staggering scale of corruption that has been uncovered in the company's global operations,"



The Team

Meet the team of industry experts behind Comsure

Find out more

Latest News

Keep up to date with the very latest news from Comsure

Find out more


View our latest imagery from our news and work

Find out more


Think we can help you and your business? Chat to us today

Get In Touch

News Disclaimer

As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email