Glencore Reviewing Bribery Allegations Said to Involve Gertler
- Gertler said to be under U.S. scrutiny; Och-Ziff admits bribes
- Glencore and Gertler are partners in Mutanda copper mine
This article is for subscribers only.
Glencore Plc, the world’s biggest commodity trader, is reviewing allegations by U.S. authorities regarding the bribery of officials in the Democratic Republic of Congo said to implicate its partner, Israeli billionaire Dan Gertler.
Some of Gertler’s projects in Congo were funded by Och-Ziff Capital Management Group LLC, which on Thursday agreed to pay more than $400 million to settle a U.S. investigation that it committed bribery violations in Africa. Och-Ziff’s partner in Congo paid $100 million in bribes to government officials over a 10-year period to win access to mining assets, according to an agreement between Och-Ziff and the U.S. Justice Department.