How the Glencore bribery case unfolded

SFO announces its investigation of the Glencore group of companies

US guilty pleas entered and SFO charges Glencore Energy (UK) Ltd

Guilty pleas by Glencore International A.G. (FCPA conspiracy, S.D.N.Y.) and Glencore Ltd. (commodity price manipulation conspiracy, D. Conn.). For the FCPA case, a criminal fine of 428,521,173 dollars and forfeiture and disgorgement of 272,185,792 dollars. For the manipulation case, a criminal fine of 341,221,682 dollars and forfeiture of 144,417,203 dollars. Each entity was to retain an independent compliance monitor for three years. The Department credited payments to the CFTC, a UK court and Swiss authorities and noted a parallel resolution in Brazil.

Glencore Energy (UK) Ltd pleads guilty

Guilty plea, Glencore Energy (UK) Ltd, seven counts under the Bribery Act 2010. Glencore Energy (UK) Ltd pleaded guilty to all seven counts charged by the SFO on 24 May 2022, which Glencore describes as five counts of bribery and two counts of failure to prevent bribery.

SFO charges five former employees

Charges against former Glencore employees. The SFO charged Alex Beard, Andrew Gibson, Paul Hopkirk, Ramon Labiaga and Martin Wakefield with conspiring to make corrupt payments in connection with oil contracts in Cameroon, Nigeria and Ivory Coast between 2007 and 2014. David Perez was charged for the first time at the 10 September 2024 hearing. Gibson, Wakefield and Perez are also charged with falsifying documents for an accounting purpose.

Six former employees appear at Westminster Magistrates' Court

Justice Department ends the monitorships early, as reported

Court filings ending the monitorships early (as reported). E&E News reported that the Department told the court it was using its sole discretion under the plea agreement to terminate the monitorship early, effective that day, having assessed the facts and circumstances. Law360 reported that both monitorships were ended early. Glencore states that in March 2025 the Department announced the early conclusion of the monitorships.

Four former employees plead not guilty

Arraignment of Wakefield, Perez, Hopkirk and Labiaga. All four pleaded not guilty to all charges. The SFO lists the trial for 4 October 2027.

Beard and Gibson plead not guilty, as reported by Reuters

Arraignment of Alex Beard and Andrew Gibson (as reported). Reuters reported that Beard pleaded not guilty to two counts of conspiracy to make corrupt payments and Gibson to four such counts and one count of conspiracy to falsify documents, and that all six are due to stand trial in October 2027. TXF separately reported Beard's not guilty plea.