Finance
Swiss prosecutors seek Trafigura payment of $156 million in corruption trial
Published by Global Banking & Finance Review®
Posted on December 9, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 9, 2024
1 min readLast updated: January 27, 2026
Swiss prosecutors demand $156M from Trafigura in a corruption trial, including penalties and compensation. Ex-COO Wainwright denies charges.
GENEVA (Reuters) - Swiss prosecutors are seeking a total of over $156 million in penalties and compensation from Trafigura and a four-year jail sentence for former Chief Operating Officer Mike Wainwright at an ongoing corruption trial in Switzerland, a spokesperson for the Attorney General's Office said on Monday.
The payment sought by prosecutors includes the maximum penalty possible for bribery under Swiss law of 5 million CHF ($5.69 million) as well as a compensation fee of $151 million, the spokesperson told Reuters.
Trafigura is defending itself in court and has said that the anti-bribery and anti-corruption controls and the compliance programme in place at the time at its parent company met legal requirements and good practice standards. Wainwright's lawyers have said he rejects all the allegations against him and is confident the case will be dismissed.
($1 = 0.8781 Swiss francs)
(Reporting by Emma Farge, editing by Kirsti Knolle)
The main topic is the Swiss corruption trial where prosecutors seek $156 million from Trafigura and a jail sentence for ex-COO Mike Wainwright.
Prosecutors are seeking over $156 million in penalties and compensation, including a maximum bribery penalty of $5.69 million.
Trafigura is defending itself, claiming its compliance program met legal and good practice standards at the time.
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