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JackieO

Glencore subpoenaed by Trumps DOJ

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Posted (edited)

To be clear Marc Rich Glencore's founder is dead but this sleazy guys dodgy practices no doubt became part of Glencores modus operandi...

Ooops missed this..... somebody woke up the Serious Fraud Office!

Quote

Investors are also monitoring developments in Britain where the Serious Fraud Office was reported to be preparing to open a formal investigation into Glencore's activities in the DRC.

Interesting that the three countries they have massive dealings in are complete hell/shit holes.

Edited by JackieO

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Good news. There'll be more out there, any of these companies working in the extraction industry will be up to their necks in B & C, it's the only way to do business in the world's shitholes.

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29 minutes ago, Roger_Mellie said:

These companies are the real legacy of empire.

Massively invested in resources and insanely well connected at every level. It will come to nought.

But but but Giuliani nailed Glencores founder back in the day.

Rich was left facing dying in prison

So it can be done and has been in the past.

With Trump in charge, I don't think this will blow over.

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15 minutes ago, Dipsy said:

Good news. There'll be more out there, any of these companies working in the extraction industry will be up to their necks in B & C, it's the only way to do business in the world's shitholes.

Indeed.  DRC is an easy one -- working there?  You'll be elbows deep in bribery.

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Now I'll await Glencore to become the doyen of the left, their praises sung daily by CNN for being the very archetype of 'benevolent, charitable multinational corporation who seek to maximize fairy dust, not profit'

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56 minutes ago, Dipsy said:

Good news. There'll be more out there, any of these companies working in the extraction industry will be up to their necks in B & C, it's the only way to do business in the world's shitholes.

Not just the extraction industry. Many large corporations use a local "agent" who gets a percentage of every contract. The agent pays the kickbacks and keeps the change (or is the person who is getting the kickbacks)

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9 minutes ago, PatronizingGit said:

Now I'll await Glencore to become the doyen of the left, their praises sung daily by CNN for being the very archetype of 'benevolent, charitable multinational corporation who seek to maximize fairy dust, not profit'

Peter Grauer  a Senior Independent Non-Executive Director of Glencore is

Quote

founding chairman of the American chapter of the 30% Club, an international organization aimed at increasing women’s representation on corporate boards.[14]

Grauer was named to the Global Advisory Board of Out Leadership, which partners with senior executives to advance LGBT equality, in late 2014.[15] OutStanding and the Financial Times named Grauer #4 in their 2015 list of Leading LGBT & Ally Executives, citing his active commitment to LGBT workplace inclusion in Bloomberg LP’s global offices.[16]

Tentacles everywhere...

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Posted (edited)
6 hours ago, Dipsy said:

Good news. There'll be more out there, any of these companies working in the extraction industry will be up to their necks in B & C, it's the only way to do business in the world's shitholes.

Under the FCPA it is ok to bribe someone to do what they otherwise should do as part of their job, such as bribing a customs official to get customs clearance at a port when all the paperwork is in order but they refuse to act. The prohibition is against higher-level stuff such as bribing government officials to get a contract.

Edited by Panther

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No.

Marc Rich and Glencore are long estranged.

This funnier.

Glencore had ipset a dodgy 3rd party who sued Glencore. Dan Gertler, in Congo.

Glencore lost and had to pay dodgy 3rd party, who was on list of US banned people i.e no bank can trade dollars with him.

Now the 1st rule of global business is if a country or perdon is banned then you dont trade with them, no matter how hidden. All internationsl compsnies will have some dollar transaction somewhere. If you use dollars or clear dollars, no matter if you are not in the states than the Americans will come after you. Seriously.

Glencore - who are a huge, v visible company, set off to pay the crook, using rlaborate means. They wouls have been told not to psy him. They must have paid for some dodgy legsl advuce - payment was mad, dnubbing doj.

Now the DOJ are after glencores boss

Hahaha.

 

https://www.ft.com/content/32e4f8bc-7ed4-11e8-bc55-50daf11b720d

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I am surprised the shares did not collapse today.

Glencore is the company that basically signalled the commodity bottom in 2015 when it looked as if it was going bust. For a time it looked as if it would start a domino affect. So they saved it. 

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21 minutes ago, The Masked Tulip said:

I am surprised the shares did not collapse today.

Glencore is the company that basically signalled the commodity bottom in 2015 when it looked as if it was going bust. For a time it looked as if it would start a domino affect. So they saved it. 

Last vestiges of empire. Same as Anglo-American.

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Posted (edited)
10 hours ago, JackieO said:

To be clear Marc Rich Glencore's founder is dead but this sleazy guys dodgy practices no doubt became part of Glencores modus operandi...

Glencores CEO Glasenberg joined Glencore WAY BACK in 1984

1 hour ago, spygirl said:

No.

Marc Rich and Glencore are long estranged.

Aye look up thread.

Taking time out to watch the YT vid above may be of help too

 

Edited by JackieO

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9 minutes ago, Roger_Mellie said:

Last vestiges of empire. Same as Anglo-American.

No.

Glencores been kicking around for ddcades.

It was only in the commodity boom w008ish tgat it leveraged up to fuck and listed.

Its very much a Swiss domiciled, London trading.

No empire about it. Bunch of rootless non Brits were rich will be in jail loons leveraging up.

Seriously, previous fu kups aside, which were only money, this fuckup is huge.

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1 minute ago, spygirl said:

No.

Glencores been kicking around for ddcades.

It was only in the commodity boom w008ish tgat it leveraged up to fuck and listed.

Its very much a Swiss domiciled, London trading.

No empire about it. Bunch of rootless non Brits were rich will be in jail loons leveraging up.

Seriously, previous fu kups aside, which were only money, this fuckup is huge. 

Sorry I cant understand you. Are you dyslexic?

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