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Trader Trafigura Pleads Guilty to a Decade of Oil Bribery in Brazil
Trafigura Group pleaded guilty to a decade of bribery in Brazil, in the latest in a string of corruption cases that have exposed a culture of widespread corruption inside the world’s biggest commodity traders. Trafigura entered a plea agreement with the US Department of Justice in a federal court in Miami on Thursday. The company will pay a fine of $80.4 million and forfeit $46.5 million, in line with the $127 million it set aside in December to resolve the case. While its largest rivals have all admitted to paying bribes in recent years to resolve US investigations, this is the first time that Trafigura has made ... (full story)