October 17, 2019 / 8:14 AM / a month ago

Swiss order Gunvor to pay nearly $95 million for corruption case

BERLIN, Oct 17 (Reuters) - Swiss federal prosecutors have ordered Gunvor to pay almost 94 million Swiss francs ($94.8 million), including a fine of 4 million, for its role in corruption cases.

"The Geneva commodities trader has been convicted of failing to take all the organisational measures that were reasonable and necessary to prevent its employees and agents from bribing public officials in order to gain access to the petroleum markets in the Republic of Congo and Ivory Coast," a statement from the Swiss Attorney General's Office on Thursday said.

A former Gunvor employee said he paid bribes to win contracts, according to a Swiss prosecution document.

$1 = 0.9916 Swiss francs Reporting by Riham Alkousaa Editing by Michelle Martin and Michael Shields

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