Home / Issues / Coordinated bribery and market-manipulation resolutions against Glencore entities (US, UK, Brazil)
Coordinated bribery and market-manipulation resolutions against Glencore entities (US, UK, Brazil)
Decidedas of 31 Oct 2026United States; United Kingdom; BrazilGlencore plcGlencore International A.G.Glencore Ltd.Glencore Energy (UK) Ltd.draft
Current status
Confirmed fact · as of 24 May 2022
Glencore International A.G. and Glencore Ltd. pleaded GUILTY in US federal court (FCPA bribery conspiracy and commodity price-manipulation conspiracy respectively) - criminal resolutions.
A U.S. Department of Justice, Office of Public Affairs, Glencore Entered Guilty Pleas to Foreign Bribery and Market Manipulation Schemes (24 May 2022) · retrieved 31 Oct 2026
Confirmed fact · as of 24 May 2022
The CFTC resolution is an ADMINISTRATIVE settlement order (civil monetary penalty plus disgorgement of USD 1.186bn), distinct from the criminal pleas.
A U.S. Commodity Futures Trading Commission, CFTC Orders Glencore to Pay $1.186 Billion for Manipulation and Fraud (Release 8534-22) (24 May 2022) · retrieved 31 Oct 2026
Confirmed fact · as of 3 Nov 2022
Glencore Energy (UK) Ltd. was criminally CONVICTED in the UK after admitting seven bribery counts and was sentenced to pay about GBP 281m.
A UK Serious Fraud Office, Glencore group of companies (SFO case summary) (3 Nov 2022) · retrieved 31 Oct 2026
Unanswered question · as of 24 May 2022
Investigations by the Swiss Office of the Attorney General and the Dutch Public Prosecution Service were reported as ongoing at the time of the May 2022 resolutions and are outside this record.
B Glencore plc (company announcement), Glencore Reaches Coordinated Resolutions with US, UK and Brazilian Authorities (24 May 2022) · retrieved 31 Oct 2026
Last reviewed 31 Oct 2026. An initial allegation is not the final event; this block is always shown.
How it unfolded
Issue raised · 24 May 2022
Proposition: US, UK and Brazilian authorities alleged that Glencore group entities engaged in long-running foreign bribery of officials and agents of state-owned entities in several countries, and in manipulation of US physical oil-price benchmarks and related derivatives, in violation of the US Foreign Corrupt Practices Act, US commodities and anti-manipulation law, and UK bribery law.
Affected parties: Glencore plc, Glencore International A.G., Glencore Ltd., Glencore Energy (UK) Ltd., U.S. Department of Justice, U.S. Commodity Futures Trading Commission, UK Serious Fraud Office, Brazil Ministerio Publico Federal
Originating record: A U.S. Department of Justice, Office of Public Affairs, Glencore Entered Guilty Pleas to Foreign Bribery and Market Manipulation Schemes (24 May 2022) · retrieved 31 Oct 2026
Response · Glencore plc · 24 May 2022
Attributed claim · as of 24 May 2022
Glencore said it had reached coordinated resolutions and had cooperated with the investigations; CEO Gary Nagle said the company 'acknowledge[s] the misconduct identified in these investigations', and chairman Kalidas Madhavpeddi said Glencore 'is not the company it was when the unacceptable practices behind this misconduct occurred'. Glencore cited a refreshed board and management, an independent compliance monitor, and reduced reliance on third-party intermediaries. — Glencore plc
B Glencore plc (company announcement), Glencore Reaches Coordinated Resolutions with US, UK and Brazilian Authorities (24 May 2022) · retrieved 31 Oct 2026
Outcome · U.S. Department of Justice (SDNY and District of Connecticut); U.S. Commodity Futures Trading Commission; UK Serious Fraud Office (English court) · 24 May 2022
judgmentbinding
Confirmed fact · as of 3 Nov 2022
Recorded precisely by forum: (1) DOJ/criminal - on 24 May 2022 Glencore International A.G. pleaded guilty to one count of conspiracy to violate the FCPA (criminal fine USD 428,521,173 plus forfeiture and disgorgement USD 272,185,792), and Glencore Ltd. pleaded guilty to one count of conspiracy to commit commodity price manipulation (criminal fine USD 341,221,682 plus forfeiture USD 144,417,203), both guilty pleas subject to court approval. (2) CFTC/administrative-civil - a settlement order against Glencore International A.G., Glencore Ltd. and Chemoil Corporation imposed a civil monetary penalty of USD 865,630,784 and disgorgement of USD 320,715,066 (USD 1.186bn total). (3) UK SFO/criminal - Glencore Energy (UK) Ltd. was charged with seven counts of bribery and, in June 2022, was convicted after admitting the charges; it was sentenced to pay GBP 280,965,092.95 (about GBP 281m). A parallel Brazilian MPF resolution (about USD 39.6m) was also reached. Credits were applied across authorities to avoid duplicative penalties.
A U.S. Department of Justice, Office of Public Affairs, Glencore Entered Guilty Pleas to Foreign Bribery and Market Manipulation Schemes (24 May 2022) · retrieved 31 Oct 2026 · A U.S. Commodity Futures Trading Commission, CFTC Orders Glencore to Pay $1.186 Billion for Manipulation and Fraud (Release 8534-22) (24 May 2022) · retrieved 31 Oct 2026 · A UK Serious Fraud Office, Glencore group of companies (SFO case summary) (3 Nov 2022) · retrieved 31 Oct 2026
Remedy: Criminal fines, forfeiture and disgorgement under the DOJ guilty pleas; CFTC civil monetary penalty and disgorgement totalling USD 1.186bn; a UK court order of about GBP 281m (fine, confiscation and costs) against Glencore Energy (UK) Ltd.; a three-year independent compliance monitor under the DOJ plea agreements.
Appeal/review: concluded — US guilty pleas were entered subject to court approval and proceeded to sentencing; the UK SFO matter proceeded to conviction and sentencing (the company pleaded guilty). Related Swiss and Dutch investigations remained open as separate matters. A UK Serious Fraud Office, Glencore group of companies (SFO case summary) (3 Nov 2022) · retrieved 31 Oct 2026
How to read this. Allegation, response and outcome are separate, dated records. "Decided/resolved" appears only where a cited outcome supports it. Materially affected parties can request a correction via Corrections & response.