Swiss court sentences Trafigura's "wolves"

Zurich, Lausanne, 31. January 2025

At the end of an historic trial, Trafigura and three individuals were found guilty of corruption in Angola by the Federal Criminal Court in Bellinzona. Among them was one of the former directors of the Geneva-based company, who received a prison sentence, a "first" in Switzerland in this high-risk sector. The verdict is a warning to the entire commodities industry, as Swiss justice seems increasingly determined to trace the chain of responsibility.

This public trial shed light on the workings of corruption in the commodities sector and the culture of silence shaped by Trafigura. Found guilty of “organizational failure” in relation to corruption, the Geneva-based trading house will have to pay a fine of CHF 3 million and a compensation claim of USD 145 million for having paid close to USD 5 million in bribes in Angola between 2009 and 2011, during the Dos Santos era. More than ten years ago, Public Eye revealed how Trafigura’s opaque alliances were contributing to the enrichment of a caste of autocratic leaders at the expense of the Angolan people.

The Federal Criminal Court also convicted other “links” in the corruption chain, including Trafigura's former number three. Mike Wainwright was sentenced to 32 months in prison, 12 of which are firm. This conviction of a former top executive is another important step in the fight against impunity. T.P., another former employee of the trading company, who became its intermediary, was sentenced to 24 months’ prison, though suspended. Owner of ConsultCo Trading Ltd, one of the entities used to pay bribes, he was responsible for sending illicit commissions to Paulo Gouveia Junior. This former head of the Angolan oil company was sentenced to 36 months’ imprisonment, 14 months of which are firm, for accepting these bribes in exchange for very lucrative contracts.

This is the first time in Swiss history that a trading company has been convicted of corruption in a public trial. However, the number of national and international proceedings have increased in recent years, as highlighted by the 20 cases recently analysed by Public Eye. These emblematic cases show that the “resource curse” that affects producer countries such as Angola is not a fatality. As home to some of the world’s biggest commodities traders, Switzerland must at last take preventive action by establishing binding due-diligence requirements and a dedicated supervisory authority for this high-risk sector.

More information from:

Adrià Budry Carbó, Commodities Expert (present in Bellinzona), +41 78 738 64 48, adria.budrycarbo@publiceye.ch

Oliver Classen, Media Director, +41 44 277 79 06, oliver.classen@publiceye.ch