A former employee at global energy trader Gunvor Group has agreed to a deal with Swiss prosecutors in which he will admit to paying bribes to officials in Congo Republic and Ivory Coast to secure oil deals and could testify against others, the former employee’s lawyers said on Wednesday.
The deal called an “accelerated proceeding” under Swiss law is similar to a plea bargain. As part of the bargain, the former employee known as Pascal C. will not serve jail time and will not pay a fine.
The plea, which would still need to be confirmed by a federal Swiss tribunal on Aug. 28, states that other Gunvor executives were aware of the transactions and recipients, something Gunvor has always denied.
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