Former Glencore Trader Assists U.S. Probe on Africa Bribes

The transcript discusses a major bribery case involving a former senior oil trader at Glencore, who paid millions in bribes to African officials. This case highlights longstanding corruption issues in the commodity trading industry, particularly in developing economies. Glencore has since reformed its practices, eliminating the use of intermediaries and distancing itself from those involved in the scandal. The industry claims to have improved its ways, reducing reliance on corrupt practices.

What was the role of the former Glencore oil trader in the US Justice Department investigation?

• He was a judge.

• He was a prosecutor.

• He was a suspect.

• He was a whistleblower.

Which industry is highlighted for having long-standing corruption issues?

• Pharmaceutical

• Commodity Trading

• Automotive

• Technology

What was the purpose of the bribes paid by the Glencore trader?

• To secure oil cargoes on favorable terms

• To expand the company's market share

• To reduce operational costs

• To hire more employees

What significant change has Glencore made in response to the corruption case?

• Expanded operations in Africa

• Stopped using intermediaries

• Increased use of intermediaries

• Hired more oil traders

How has the broader commodity trading industry responded to corruption issues?

• By increasing bribes

• By ignoring the issues

• By reducing reliance on intermediaries

• By expanding into new markets