A subsidiary of United kingdom mining and trading firm Glencore pleaded guilty to seven counts charges of bribing Nigeria officials.
The Serious Fraud Office (SFO) which prosecute the case against the trading gaint after conducting the investigation , said the sentencing hearing will take place by early November this year
The SFO have initially faced criticism after two senior judges overturned Unaoil bribery investigation because of disclosure failings.
The Swiss based multinational mining and trading conglomerate had been find guilty in corrupting leaders in Africa countries such as Nigeria, South Sudan, Cameroon and Equatorial Guinea. And are expected up $1.5 billion to settle bribery manipulation allegations and another $1.1 billion separate charges for manipulating fuel oil prices at US shipping ports.
Glencore own to this weighty allegations at a Southwark Crown Court hearing in London, when they admitted paying over $28 million in bribes to secure advantageous access to oil and generating illicit profit from 2011 to 2016.
A legal researcher at the SFO Helen Taylor is of the opinion that all senior executives involved in the corruption charges should be prosecute.Follow us on social media