Britain’s Serious Fraud Office launched an investigation into Glencore over suspicions of bribery
), adding to legal troubles that have hit the shares of one of the world’s biggest miners and commodity traders.
Glencore, which was subpoenaed in July 2018 by the U.S. Department of Justice over possible violations of the Foreign Corrupt Practices Act relating to operations in Nigeria, Venezuela and the Democratic Republic of Congo , said it would cooperate with the investigation. Over the course of this year, Glencore’s shares have fallen more than 20%, pressured by broader concerns about safety and sustainability in the DRC. Canada’s regulatory authorities fined a Glencore-controlled subsidiary last year after allegations of inadequate financial disclosures in the DRC.
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