Commodities company Trafigura announced Thursday that it has agreed to pay approximately $127 million as part of a plea agreement following a U.S. Department of Justice investigation into the conduct of former employees or agents in Brazil for 10 years or more.
Trafigura Beheer BV, the parent company of the Trafigura Group during the relevant period, will be responsible for paying the fine.
In December, Trafigura announced it would set aside $127 million to cover a possible fine from the U.S. Department of Justice to resolve an investigation into “improper payments” made by the company in Brazil.
This move follows a series of cases where major commodities trading firms have been penalized with significant fines, such as Gunvor, Vitol and Glencore.
Source: Terra
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