Gunvor Fined for Failing to Prevent Corruption in West African Oil Deals

Geneva-based global commodity trading house Gunvor has been ordered to pay almost CHF94 million ($95 million) by the Office of the Attorney General of Switzerland for failing to to take all "organizational measures that were reasonable and necessary to prevent its employees and agents from bribing public officials" to gain access to the petroleum markets of the Republic of Congo and Côte d'Ivoire.