Glencore controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2022
Bribery and market-manipulation convictions
Glencore entities pleaded guilty or entered resolutions in the United States and United Kingdom concerning bribery and market manipulation, agreeing to penalties and compliance-related obligations.
2022
Australian coal bribery case
A Glencore-linked entity pleaded guilty in the United States to paying bribes through intermediaries connected with coal business in Australia and other jurisdictions.
2020
UniCredit sues Hin Leong and Glencore over oil deal
Lawsuit filed
UniCredit sued Hin Leong over a letter of credit and also sued Glencore in connection with the matter. UniCredit alleged in court documents that same-day sale-and-buy-back transactions made the purchase a sham and deprived it of security over the financed goods.
Source excerpt
Italy’s UniCredit SpA has sued Hin Leong Trading Pte Ltd over a letter of credit, court documents show
It said the transactions rendered Hin Leong’s purchase “a sham” and “deprived UCB (UniCredit) of any security over the goods financed.”
The Singapore High Court documents seen by Reuters show the Italian bank has also sued commodity trading giant Glencore over the matter. A source familiar with the case confirmed the lawsuits had been filed.
2018
US corruption investigation
The United States Department of Justice investigated Glencore and related entities over possible violations of anti-corruption laws involving business in Nigeria, the Democratic Republic of the Congo and Venezuela.
2011
Mopani tax-avoidance allegations
Civil-society organizations and an alleged audit report accused Mopani Copper Mines in Zambia of using transfer pricing and inflated costs to reduce taxable profits. Glencore and Deloitte rejected the allegations; the dispute became a prominent debate about taxation and multinational mining in Zambia.