Glencore's former head of oil is charged with bribery in a UK court

Alex Beard, former Glencore head of oil, appeared before a London court Tuesday to answer bribery allegations relating to Glencore's operations in Africa.

Beard's lawyer told the London Westminster Magistrates' Court that he will plead guilty.

The 57-year old is accused of two counts of conspiracy for corrupt payments made to officials of government-owned oil companies and government officials in Nigeria from 2010 to 2014 and in Cameroon, between 2007 and 2008.

Beard is the most prominent commodity trader in Britain to be charged with alleged corruption. He joined Glencore from BP in 1995, which was the largest trading desk of that time. From 2007 until 2019, he served as the head of oil.

In its prime, he helped Glencore to become one of three top oil trading companies. It traded as much as 7 percent of the world’s oil.

Four other former Glencore employees, Andrew Gibson, Paul Hopkirk Ramon Labiaga, and Martin Wakefield, were also accused of making corrupt payments in relation to Glencore operations in Nigeria Cameroon, and Ivory Coast.

Gibson and Hopkirk pleaded not guilty through their attorneys. Labiaga & Wakefield didn't indicate a plea and weren't required to.

Gibson and Wakefield have been charged with conspiracy to falsify documentation between 2007 and 2011.

David Perez, another ex-Glencore worker, was also charged with corrupt payments and conspiracy of falsifying documents. Perez has not entered a plea.

The prosecutor Alexandra Healy stated that the alleged crimes related to the West Africa Desk of Glencore’s London office.

The six defendants were all sent to Southwark Crown Court on October 8 for an hearing. (Reporting and editing by Alexander Smith; Sam Tobin, Robert Harvey)

(source: Reuters)