Former oil chief at Glencore accused of corruption in Africa

The former head of oil at Glencore has appeared in court in London to face corruption charges relating to the commodities trader’s operations in Africa.
Alex Beard, 57, has been charged by the Serious Fraud Office with two counts of conspiracy to make corrupt payments to government officials and officials of state-owned oil companies in Nigeria between 2010 and 2014, and in Cameroon between 2007 and 2014. He would plead not guilty, his lawyer told Westminster magistrates’ court.
Beard, the most high-profile commodities trader to have been charged in Britain for alleged corruption, joined Glencore in 1995 from BP, which operated the biggest trading desk at that time, and was its head of oil from 2007 until 2019, when he retired.
The former executive helped Glencore to become one of the top three oil trading firms, trading as much as 7 per cent of the world’s oil in its heyday.
Four other former Glencore employees were also charged by the fraud agency, which opened an investigation into Glencore in 2019 in connection with the case. Andrew Gibson, 64, the former head of oil operations, was accused of four counts of conspiracy to make corrupt payments in Nigeria and Cameroon from 2007 to 2014 and in Ivory Coast between 2007 and 2010, as well as conspiring to falsifying invoices.
Paul Hopkirk, 50, Ramon Labiaga, 55, and Martin Wakefield, 64, were charged with making corrupt payments relating to Glencore’s operations in Nigeria, Cameroon and Ivory Coast.
Gibson and Hopkirk indicated not guilty pleas through their lawyers. Labiaga and Wakefield did not indicate any pleas and were not required to do so.
Another ex-Glencore employee, David Perez, 53, has been charged with making corrupt payments and conspiracy to falsify documents. He did not indicate any pleas.
In total, the men are facing 16 charges relating to conspiracy to make corrupt payments in west Africa. All six men have been granted unconditional bail, with a hearing set at London’s Southwark crown court next month.
Nick Ephgrave, director of the SFO, said: “We are committed to exposing corruption and holding those who are responsible to account. Bribery damages financial markets and causes lasting harm to communities.”