Swiss judges are set to rule on Friday in a landmark corruption trial involving commodities trader Trafigura and three other defendants accused of paying bribes to an Angolan oil official to secure lucrative contracts. The case marks the first time a company has been prosecuted at Switzerland’s highest court for allegedly corrupting a foreign official, highlighting the growing scrutiny on global commodity trading practices.
Prosecutors allege that Trafigura and its associates facilitated more than $5 million in bribes through intermediaries between 2009 and 2011 to gain preferential access to Angolan oil deals. They are seeking over $156 million in penalties and compensation from the firm, alongside a four-year prison sentence for former Chief Operating Officer Mike Wainwright, one of the key figures in the case.
Trafigura, which sent current board member Pierre Lorinet to respond to prosecutors’ questions during the trial in December, has maintained that its compliance programme and anti-corruption controls at the time adhered to legal and industry standards. Wainwright has denied all charges, with his defence arguing that the case lacks merit and should be dismissed. Lawyers for the two other defendants, whose identities remain undisclosed due to Swiss privacy laws, have also rejected the allegations.
The court in Bellinzona reviewed extensive documentation, including internal memos, emails, and messages, as evidence. Some of these documents referenced a former Trafigura employee allegedly nicknamed “Mr. Non-Compliant” by the late company founder Claude Dauphin. The Dauphin family has contested any insinuations that he played a direct role in wrongdoing.
Should the court rule against the defendants, any sentences could be appealed, which would put prison terms on hold pending further legal proceedings. The verdict is expected to have significant implications for the global commodities sector, where legal and regulatory scrutiny has intensified in recent years.
