Britain’s white-collar crime prosecutor is preparing to open a formal bribery investigation into Glencore and its work with Israeli billionaire Dan Gertler and the leader of Democratic Republic of Congo, according to two people with knowledge of the matter. The mining company’s shares plunged in London trading.
Investigators at the Serious Fraud Office plan to seek formal approval for a full probe into Glencore’s dealings in Congo, said the people, who declined to be identified because the matter isn’t public. Since Glencore is based in Switzerland, the prosecutor would have to show it has jurisdiction because the company’s shares are traded in London.
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