Numlock News: November 4, 2022 • Animals, Bribes, International Space Station
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By Walt Hickey Have an excellent weekend! Bribes On Thursday a U.K. judge hit commodities trader Glencore with a £276 million fine ($308 million) after the U.K. Serious Fraud Office demonstrated that the company had paid out $28 million in bribes across several African countries over the course of five years in order to get their hands on raw materials like oil and minerals. They worked pretty quickly to capitalize on political turmoil by being ready to grease palms: Just four weeks after South Sudan became independent in 2011, a group of traders flew in with $800,000 in cash on hand to dole out for bribes to score contracts for oil extraction. The move from the U.K. comes on top of $1.1 billion Glencore paid related to similar cases in Brazil and the U.S.
Numlock News: November 4, 2022 • Animals, Bribes, International Space Station
Numlock News: November 4, 2022 • Animals…
Numlock News: November 4, 2022 • Animals, Bribes, International Space Station
By Walt Hickey Have an excellent weekend! Bribes On Thursday a U.K. judge hit commodities trader Glencore with a £276 million fine ($308 million) after the U.K. Serious Fraud Office demonstrated that the company had paid out $28 million in bribes across several African countries over the course of five years in order to get their hands on raw materials like oil and minerals. They worked pretty quickly to capitalize on political turmoil by being ready to grease palms: Just four weeks after South Sudan became independent in 2011, a group of traders flew in with $800,000 in cash on hand to dole out for bribes to score contracts for oil extraction. The move from the U.K. comes on top of $1.1 billion Glencore paid related to similar cases in Brazil and the U.S.