CFTC market manipulation Archives - Corruption, Crime & Compliance

2 Jun, 2022

Glencore’s Commodity Trading Fraud Scheme (Part IV of V)

Glencore’s settlement with DOJ and the CFTC revealed a plethora of manipulative, deceptive and corrupt conduct, which spanned from at least 2007 to 2018 and occurred in the United States and global oil markets, including manipulation of four U.S. based S&P Global Platts physical oil benchmarks and related futures and swaps. From 2007 to 2018, Glencore sought to increase profits from physical and derivative oil...

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27 May, 2022

Glencore Pleads Guilty and Resolves Foreign Bribery and Market Manipulation Charges — Pays Over $1.1 Billion (Part I of V)

In a long-anticipated and major enforcement action, the Justice Department and the Commodities and Futures Trading Commission resolved a sprawling investigation with Glencore International A.G. and Glencore Ltd, a Swiss-based commodity trading and mining company. Glencore entered guilty pleas for FCPA violations and a commodity price manipulation scheme. Glencore paid over $1.1 billion to resolve these two major investigations. The resolution in the U.S. was...