Swiss Court Convicts Trafigura in Landmark Corruption Case Linked to Angola’s Oil Sector

In a historic ruling, Switzerland’s highest criminal court has convicted global commodities giant Trafigura and its former Chief Operating Officer Mike Wainwright for bribery, marking the first time a multinational company has faced such charges in the country. The case centres on alleged bribes paid to Angolan officials to secure lucrative oil trading contracts.

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The Federal Criminal Court in Bellinzona sentenced Wainwright to 32 months in prison, ordering him to serve at least 12 months, with part of the sentence suspended. Trafigura was fined $3.3 million and directed to set aside an additional $145 million for potential compensation claims. The case sends a clear message to commodity traders headquartered in Switzerland, a global hub for such firms.

A Web of Corruption Unveiled

Between 2009 and 2011, Trafigura allegedly paid $5 million in bribes to officials from Sonangol, Angola’s state oil company, in exchange for shipping and oil bunkerage contracts. Swiss prosecutors presented emails, memos, and financial documents showing how the payments were routed through intermediaries and offshore entities.

A key figure in the scheme, identified in court as “Mr Non-Compliant,” allegedly oversaw corrupt transactions from Trafigura’s Geneva office. This nickname, reportedly given by the company’s late founder Claude Dauphin, reflects the firm’s failure to enforce its anti-corruption policies.

Despite the bribery denials, prosecutors argued that Trafigura’s compliance measures were a façade. While policies existed on paper, the firm allegedly maintained intricate networks designed to circumvent these controls. Prosecutors described Wainwright as the “linchpin of the scheme”, accusing him of using “methods worthy of a seasoned criminal” to disguise the payments.

Angola’s Oil and Trafigura’s Rise

Angola played a crucial role in Trafigura’s growth, contributing to the company’s transformation into a global commodities powerhouse. Under Claude Dauphin, Trafigura dominated the Angolan oil market, securing contracts that generated profits of $144 million (£115 million).

Trafigura, founded in 1993 by Dauphin and former associates of Marc Rich—a controversial trader wanted by US authorities—has long faced scrutiny over its business practices. The firm’s relationship with Angola cemented its status as a major player in the oil sector, but the Swiss verdict now casts a shadow over its legacy.

Global Implications of the Swiss Ruling

This case represents a watershed moment in Switzerland’s anti-corruption efforts, particularly given the country’s historic reputation for turning a blind eye to corporate misconduct. By bringing charges against Trafigura, Swiss prosecutors aim to signal that the era of unchecked corruption in global commodity trading is coming to an end.

Anti-corruption campaigners have praised the conviction, viewing it as a long-overdue crackdown on questionable practices in the commodities sector. Switzerland, home to trading giants like Trafigura, Vitol, and Glencore, is now under pressure to strengthen enforcement further.

Wainwright and Trafigura Plan to Appeal

Both Wainwright and Trafigura plan to appeal the verdict. Wainwright’s lawyer criticised the ruling, claiming the court overlooked crucial evidence:

“The court found Mr Wainwright guilty based on general assumptions and disregarded key evidence that shows he was not involved in any bribery scheme.”

Under Swiss law, Wainwright will remain free until the appeal process is complete. Trafigura, meanwhile, expressed disappointment but did not confirm whether it would file an appeal, stating it was “reviewing the matter.”

Trafigura’s Troubled History

This is not Trafigura’s first brush with allegations of corruption. In 2022, the company pleaded guilty in the United States to paying $20 million in corrupt commissions in Brazil. While Trafigura has invested heavily in bolstering its compliance programme in recent years—introducing mandatory training, enhancing internal controls, and banning third-party intermediaries—the Swiss court found these measures insufficient to prevent past abuses.

The Bigger Picture: Lessons for Africa

The Trafigura case underscores broader concerns about the relationship between global commodity traders and resource-rich African nations. Angola, one of Africa’s leading oil producers, has historically faced challenges with corruption in its oil sector, which accounts for the bulk of its revenue. This case could serve as a turning point, spurring African governments to strengthen oversight, improve transparency, and renegotiate contracts to ensure greater accountability.

The verdict also highlights the need for Pan-African cooperation in combating corruption, especially when it involves multinational corporations profiting at the continent’s expense. Angola and other African oil producers may now feel emboldened to scrutinise past deals and hold corrupt officials and companies accountable.

Conclusion: A Landmark in the Fight Against Corruption

The Swiss ruling against Trafigura is a reminder that even the most powerful corporations are not above the law. As African nations continue to seek fairer and more transparent partnerships, cases like this highlight the importance of rooting out corruption, both at home and abroad.

The verdict may be appealed, but the message is clear: the days of opaque deals and unchecked profiteering in Africa’s oil sector are numbered.

Key Takeaways

• Trafigura convicted by a Swiss court for bribery linked to Angolan oil deals.
• Mike Wainwright, the firm’s former COO, sentenced to 32 months in prison, with 12 months mandatory.
• Swiss prosecutors presented extensive evidence, including documents showing Trafigura’s role in corrupt payments.
• Trafigura and Wainwright plan to appeal, but the case has already been hailed as a milestone in global anti-corruption efforts.
• The case raises broader questions about Africa’s resource governance and the role of foreign corporations in perpetuating corruption.