Glencore Finds Itself Under The Department Of Justice Microscope

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About: Glencore plc (GLNCY), GLCNF
by: MetalMiner
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MetalMiner
Commodities, ETF investing, base metals

Original post

By Stuart Burns

This is not the first time critics have lined up to suggest Glencore (OTCPK:GLNCY) (OTCPK:GLCNF) is on the ropes; but close to the wind as the trader often sails, the firm will likely find solutions to its current challenges, substantial as they are.

And let's not belittle the challenges the firm is facing. The U.S. Department of Justice, no less, is investigating the company's business dealings in the Democratic Republic of the Congo, Venezuela and Nigeria as part of a corruption probe, Reuters reports.

If wrongdoing is proven, then Glencore and its executives could face huge fines or even criminal prosecution under the Foreign Corrupt Practices Act the U.S. is