Swiss Prosecutors Seek $156 Million From Trafigura

Swiss prosecutors are pursuing over $156 million in penalties and a four-year prison sentence for Trafigura's former COO, Mike Wainwright, in a high-profile corruption trial. The case is significant as it marks the first instance where Switzerland's top criminal court will address corporate liability for allegedly bribing a foreign official, with accusations that Trafigura and co-defendants paid over $5 million in bribes to an Angolan official between 2009 and 2011. Prosecutors are seeking the maximum penalty under Swiss law for bribery, amounting to 5 million CHF, plus $151 million in compensation reflecting Trafigura's alleged illicit profits. Trafigura defends its actions, arguing that its anti-bribery measures were adequate at the time, while Wainwright’s legal team expresses confidence in a favorable outcome. A verdict is expected next year, with potential for appeals on any imposed sentences. This trial highlights ongoing concerns regarding corporate governance and accountability in global markets.