On 31 May, the Guardian reported that the global oil and commodities trader is under investigation by US authorities for alleged corruption and market manipulation relating to oil trading.  The US Commodities and Futures Trading Commission (CFTC) is leading a far-reaching probe into its activities.  The CFTC has issued subpoenas to a large pool of people, ordering them to hand over all information they hold relating to the company’s activities.  Trafigura is legally registered in Singapore but is owned by Farringford NV, registered in Curacao.  The newspaper says that, in its 26-year history, the company has been implicated in several high-profile scandals, including involvement in smuggling oil out of Saddam Hussein’s Iraq.




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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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