UPDATE 2-Glencore gets U.S. subpoena on compliance with money-laundering laws [Reuters]
GLENCORE PLC UNSP/ADR (GLNCY)
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Source: Reuters
Glencore gets U.S. subpoena on compliance with money-laundering laws | Reuters Reuters Staff 3 Min Read LONDON (Reuters) - U.S. authorities have demanded Glencore Plc hand over documents relating to its business in Nigeria, the Democratic Republic of Congo and Venezuela dating back over a decade, sending its shares down more than 10 percent. The commodities trader and miner said a subsidiary had received a U.S. Department of Justice subpoena requesting documents and records on compliance with the Foreign Corrupt Practices Act and U.S. money-laundering statutes. Shares in Glencore, a major exporter of Nigerian and Venezuelan crude, dropped in London trade. The company was the top loser on the British bluechip index. The documents requested from subsidiary Glencore Ltd relate to the group’s business in Nigeria, the DRC and Venezuela from 2007 to present, Glencore said, adding it was reviewing the subpoena. The U.S. Foreign Corrupt Practices Act makes it a crime for companies to bribe ov
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