Commodities firm Trafigura goes on Swiss trial over alleged bribes paid to win Angola oil contract

GENEVA (AP) — For the first time in Switzerland, a multinational company faces a criminal trial on charges of bribing a foreign public official, with alleged payments totaling about $5 million, to win lucrative oil industry contracts in Angola. Commodities trader Trafigura Group said it intended to defend itself against allegations that its former parent company did not have “reasonable and necessary” measures in place at the time to prevent unlawful payments to a former employee of Angola’s state oil company. Monday’s case underscores renewed allegations of bribery in the commodities trading business, which have ensnared other big participants such as Glencore, and Gunvor.