In a long-anticipated and major enforcement action, the Justice Department and the Commodities and Futures Exchange Commission resolved a sprawling investigation with Glencore International A.G. and Glencore Ltd, a Swiss-based commodity trading and mining company. Both companies entered guilty pleas for FCPA violations and a commodity price manipulation scheme. Glencore paid over $1.1 billion to resolve these two major investigations. The resolution in the U.S. was part of a coordinated set of criminal and civil resolutions involving the United States, the United Kingdom and Brazil.In this Episode, Michael Volkov reviews the settlement and the implications for future enforcement actions.
