GENEVA (AP) — Swiss federal prosecutors on Tuesday said they have indicted a former employee of oil trading giant Gunvor over bribes paid to obtain access to the Republic of Congo's petroleum market more than a decade ago.
The attorney general's office says the indictment follows an eight-year investigation, during which the company itself was ordered to pay 94 million Swiss francs (dollars) in 2019 over the bribery allegations.
The next day, the U.S. government announced sanctions against Russian interests, including Timchenko himself.
Gunvor has since stopped its operations in the Republic of Congo, and said it has improved its compliance programs.
Gunvor's main trading office is in Geneva, but its headquarters are in Nicosia, Cyprus.
Persons:
“, Gunvor, Torbjörn Törnqvist, Gennady Timchenko, Vladimir Putin, Timchenko
Organizations:
GENEVA, —
Locations:
— Swiss, Republic, Congo, Brazzaville, Ukraine, U.S, Republic of Congo, Geneva, Nicosia, Cyprus