Well oil be damned: ex-Glencore trader guilty of Nigeria bribes


Well oil be damned: ex-Glencore trader guilty of Nigeria bribes

Trader Anthony Stimler wired money for payments to secure oil deals from senior government officials

William Clowes

A former Glencore trader who said he was part of a bribery scheme to win oil contracts from Nigeria, transferred $300,000 (R4.4m) of company funds in 2014 to an intermediary who’d requested the cash to benefit a senior government official in the nation’s elections, US court filings show.

Anthony Stimler, who left the Switzerland-based commodity giant in 2019, pleaded guilty in New York on Monday to corruption and money-laundering charges. Prosecutors described in court filings how Stimler and others paid millions of dollars in bribes between 2007 and 2018 in several countries, including to officials at Nigerian National Petroleum, the state-owned oil company, on behalf of Glencore.

According to the US, a “co-conspirator” notified Stimler by e-mail in September 2014 that a “high-ranking Nigerian official” who was not identified had set conditions for companies wishing to secure crude shipments — NNPC’s customers “are given in advance $300,000 (R4.4m) each month/cargo and an amount which varies at the moment”...

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