The US Department of Justice is investigating the world’s biggest commodity trader for possible corruption and money laundering activities in mining deals in Africa and Venezuela, Bloomberg reports.
The Department is trying to establish whether Glencore flouted the Foreign Corrupt Practices Act and United States money laundering statutes. It has since subpoenaed the Swiss miner and trader to produce documents relating to its business interests in Nigeria, the Democratic Republic of Congo and Venezuela from 2007 to the present.
It’s not just in the US where Glencore is under the radar of authorities.
Already in the UK, the company is facing the possibility of a bribery investigation by UK prosecutors over its work with Dan Gertler, an Israeli billionaire, in the DRC where it operates copper and cobalt mines. Gertler, who is under US sanctions, has close links with DRC President, Joseph Kabila.