Trafigura to pay $127 million over US DOJ probe [Reuters]
GLENCORE PLC UNSP/ADR (GLNCY)
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Source: Reuters
Department of Justice (DOJ) into the conduct of former employees or agents in Brazil 10 or more years ago. Trafigura Beheer BV, the parent company of Trafigura Group during the relevant period, will be paying the fine. In December, Trafigura said it was setting aside $127 million to cover a possible DOJ fine to end a probe into "improper payments" by the company in Brazil. This follows a series of cases where key commodity trading houses have paid large fines, including Gunvor, Vitol and Glencore Plc. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. Reporting by Anjana Anil and Ashitha Shivaprasad in Bengaluru Our Standards: The Thomson Reuters Trust Principles. , opens new tab
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