Commodities trader Gunvor held criminally liable for acts of corruption
In a summary penalty order dated 14th October 2019, the Office of the Attorney General of Switzerland (OAG) has ordered the company Gunvor to pay a sum of almost CHF 94 million, including a fine of CHF 4 million. The Geneva based commodities trader has been convicted of failing to take all the organisational reasonable measures to prevent its employees and agents from bribing public officials in order to gain access to the petroleum markets in the Republic of Congo and the Ivory Coast.
Due to serious deficiencies in Gunvor’s internal organisation, the OAG accuses the oil trading company represented by its Geneva branch to have failed to prevent the bribery of public officials between 2008 and 2011. These acts of corruption, which had the aim of securing access to the petroleum markets in the countries mentioned, were subject of a previous judgment issued by the Criminal Chamber of the Federal Criminal Court and dated 28th August 2018.