In January 2025, Switzerland's Federal Criminal Court found commodities trading company Trafigura Beheer BV guilty in a landmark corruption case involving bribes paid to an Angolan public official in connection with oil trading contracts. Swiss prosecutors said that between 2009 and 2011, more than €4.3 million and US$604,000 in bribes were paid to a former employee of Angola's state oil company through intermediaries connected to Trafigura. The payments were linked to Trafigura's petroleum business in Angola. Swiss Office of the Attorney General – Indictment against Trafigura: https://www.sif.admin.ch/en/nsb?id=99242 Reuters – Trafigura and former executive found guilty of bribing Angolan official: https://www.reuters.com/world/europe/swiss-court-finds-trafigura-former-executive-guilty-corruption-2025-01-31/ The Federal Criminal Court concluded that Trafigura had failed to put in place all reasonable and necessary organisational measures to prevent the bribery. The court ordered Trafigura to pay a CHF 3 million fine and approximately US$145.6 million in confiscated profits/compensation connected to the conduct. Reuters – Swiss court verdict: https://www.reuters.com/world/europe/swiss-court-finds-trafigura-former-executive-guilty-corruption-2025-01-31/ Former Trafigura Chief Operating Officer Mike Wainwright was also found guilty and sentenced to 32 months' imprisonment, of which 12 months were ordered to be served. The prosecution had alleged that the bribery scheme was designed to obtain and retain lucrative oil contracts in Angola. Evidence presented during the proceedings included company documents, emails, messages and records concerning intermediaries used in the transactions. Reuters – Background to the corruption trial: https://www.reuters.com/markets/europe/swiss-prosecutors-seek-trafigura-payment-156-million-corruption-trial-2024-12-09/ The case was particularly significant because it was the first time Switzerland's Federal Criminal Court had been asked to determine the criminal liability of a company for bribery of foreign public officials. Swiss authorities described the case as concerning Trafigura's failure to implement sufficient organisational safeguards capable of preventing the corrupt payments. Swiss Federal authorities – Criminal case against Trafigura: https://www.sif.admin.ch/en/nsb?id=99242 Company Response Trafigura disputed the allegations during the proceedings and argued that its anti-bribery and anti-corruption controls and compliance programme in place at the time met applicable legal requirements and international good-practice standards. The company has said that it has substantially strengthened its compliance programme since the period covered by the case. Measures include mandatory employee training, stronger compliance policies and controls, and a decision in 2019 to prohibit the use of third parties for business origination. Trafigura – Company statement on Swiss proceedings: https://www.trafigura.com/news-and-insights/press-releases/2024/court-proceedings-in-switzerland/ Trafigura subsequently appealed the January 2025 judgment. The company states that the judgment has therefore not become legally binding and that Trafigura Beheer BV continues to benefit from the presumption of innocence while the appeal is pending. Trafigura – 2025 Annual Report / legal matters: https://www.trafigura.com/news-and-insights/insights/2025-trafigura-annual-results/chief-executive-officers-review/ Key Facts Swiss authorities alleged bribes exceeding €4.3 million plus US$604,000 were paid to an Angolan public official. The conduct occurred between 2009 and 2011 and was connected to Trafigura's petroleum business in Angola. Switzerland's Federal Criminal Court found Trafigura Beheer BV guilty in January 2025. The court found that Trafigura had failed to implement all reasonable and necessary organisational measures to prevent bribery. Trafigura was ordered to pay a CHF 3 million fine. The court also ordered approximately US$145.6 million in confiscation/financial recovery. Former Trafigura COO Mike Wainwright was found guilty and sentenced to 32 months' imprisonment. The case was the first Swiss Federal Criminal Court case addressing corporate criminal liability for bribery of a foreign public official. Trafigura disputes the court's conclusion regarding its historic compliance controls and has strengthened its compliance programme since the relevant period. Trafigura has appealed the judgment, so the conviction is not yet legally final as of 2026. Sources Swiss federal authorities – Trafigura Beheer BV and three individuals referred to the Federal Criminal Court https://www.sif.admin.ch/en/nsb?id=99242 Reuters – Trafigura and former executive found guilty of bribing Angolan official https://www.reuters.com/world/europe/swiss-court-finds-trafigura-former-executive-guilty-corruption-2025-01-31/ Reuters – Swiss prosecutors seek $156 million from Trafigura in corruption trial https://www.reuters.com/markets/europe/swiss-prosecutors-seek-trafigura-payment-156-million-corruption-trial-2024-12-09/ Trafigura – Court proceedings in Switzerland https://www.trafigura.com/news-and-insights/press-releases/2024/court-proceedings-in-switzerland/ Trafigura – 2025 Annual Results, legal matters https://www.trafigura.com/news-and-insights/insights/2025-trafigura-annual-results/chief-executive-officers-review/