Oil trading giant Gunvor Group has been fined about $95 million for being found by Swiss authorities to be liable for corruption in Ivory Coast and Congo-Brazzaville.
The Swiss Attorney General’s Office fined Gunvor around $4 million on top of gross profit plus interest gained on oil deals in the two countries between 2009 and 2011.
The fines came after a Gunvor employee last year admitted paying bribes, including to Congo-Brazzaville’s President Denis Sassou Nguesso, to secure oil deals.
