Swiss Judge to Rule on Trafigura Corruption Trial Friday
In a landmark case, Swiss judges will deliver a verdict on Friday in a corruption trial involving commodities trader Trafigura and three co-defendants allegedly involved in bribing an Angolan oil official to secure lucrative contracts.
This marks the first time in Swiss history that a corporation has faced charges of bribing a foreign official. It is also a rare instance globally where a former top executive of a trading firm finds themselves in the dock.
Prosecutors allege that Trafigura and its associates funneled over $5 million in bribes through a network of intermediaries to the Angolan official between 2009 and 2011 to win oil deals. They seek penalties and compensation totaling over $156 million from Trafigura and a four-year prison sentence for ex-Chief Operating Officer Mike Wainwright.
Trafigura, represented by board member Pierre Lorinet during the December trial, maintains that its anti-corruption controls and compliance programs met legal and ethical standards. Wainwright has denied all allegations, and his lawyers express confidence in the case's dismissal.
Attorneys for the other two defendants, whose names remain withheld due to Swiss privacy regulations, also deny the charges.
The trial, held in Bellinzona, featured extensive documentation, including memos, emails, and messages. Prosecutors highlighted an ex-Trafigura employee nicknamed "Mr. Non-Compliant" for his alleged involvement in prohibited business practices. The family of Trafigura's late founder, Claude Dauphin, has condemned the unfair singling out of their patriarch.
Any verdict can be appealed to the court, which would suspend any prison sentence pending the appeal's outcome.