August 02, (THEWILL) – British billionaire and Glencore’s former head of oil, Alex Beard, has been charged with bribery offences relating to the Swiss commodity trader’s operations in Nigeria, Cameroon and Ivory Coast.
In a statement on Thursday, Britain’s Serious Fraud Office (SFO) alleged that Beard, along with four other former Glencore employees (including Andrew Gibson, Paul Hopkirk, Ramon Labiaga and Martin Wakefield), conspired to make corrupt payments, in order to benefit Glencore’s oil operations in West Africa.
Beard, in particular, has been charged with two conspiracies to make corrupt payments to government officials and officials of state-owned oil companies in Nigeria between 2010 and 2014 and in Cameroon between 2007 and 2014.
Also, Gibson and Wakefield, have also been charged with Fraud bordering on falsification of invoices to Glencore’s London office marked as service fees to a Nigerian oil consultancy between 2007 and 2011.
They are due to appear at London’s Westminster Magistrate’s Court on September 10.
The statement titled: “SFO charges five former Glencore employees”, read, “The Serious Fraud Office (SFO) has today charged Alex Beard, Andrew Gibson, Paul Hopkirk, Ramon Labiaga and Martin Wakefield with conspiring to make corrupt payments in order to benefit commodities giant Glencore’s oil operations in West Africa.
“The five individuals, all former employees of the company, have been charged in connection with the awarding of a range of oil contracts variously spanning Cameroon, Nigeria and the Ivory Coast from 2007 to 2014.
“Andrew Gibson and Martin Wakefield have also been charged in relation to the falsification of invoices to Glencore’s London office marked as service fees to a Nigerian oil consultancy from 2007 to 2011.
“A hearing is scheduled for 10 am on Tuesday, 10th September at Westminster Magistrates’ Court.”
SFO Director, Nick Ephgrave, said: “Bribery damages financial markets and causes lasting harm to communities. Today’s action is an important step towards exposing overseas corruption and holding those who are responsible to account.”
A Glencore spokesperson said the company noted the charges and had “co-operated with the SFO in its investigation into this past conduct and resolved its SFO investigation in 2022.
“This (alleged) conduct has no place in Glencore and we are committed to acting ethically and responsibly across all aspects of our business and have taken significant action towards building a best-in-class ethics and compliance programme.”
