UK SFO delays Glencore personnel charging decision until year-end. On Monday, the Serious Fraud Office’s attorneys told a London court that they would determine whether to charge any ex-Glencore (GLEN.L) employees with bribery by 2023.
The SFO is investigating former Glencore Energy UK Limited employees for West African operations-related crimes.
SFO decisions have been delayed. In October, the agency indicated it would decide on 11 Glencore employees or associates by April, although this was delayed earlier this year.
At a Monday hearing at London’s Southwark Crown Court, SFO lawyer Alexandra Healy said the agency intends to decide on criminal charges by 2023.
SFO-investigated ex-Glencore workers have been given anonymity pending a criminal charges decision.
Glencore’s UK subsidiary acknowledged seven bribery charges last year for paying or failing to prevent millions of dollars in bribes to Cameroon, Equatorial Guinea, Ivory Coast, Nigeria, and South Sudan officials.
During its November sentence, Glencore employees and agents used private jets to pay Cameroon and South Sudan officials bribes.
Glencore was fined 276.4 million pounds ($352 million) for “endemic” misconduct.
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