GUNVOR SA held criminally liable for acts of corruption in Ecuador
Bern, 1.3.2024 - The Office of the Attorney General of Switzerland has convicted the company GUNVOR SA, sentencing it to pay a sum of nearly CHF 86.7 million, including a fine of CHF 4.3 million. An investigation conducted by the Office of the Attorney General of Switzerland found that the Geneva commodities trading company did not take all the reasonable and necessary organisational measures in order to prevent the commission by its employees, at least from February 2013 to February 2017, of offences of bribery of foreign public officials, in relation to its activities in the petroleum industry in Ecuador. This conviction takes place in the context of a coordinated outcome with U.S. authorities.