Glencore’s ex-head of oil Alex Beard charged with bribery offenses by U.K. fraud agency

Glencore’s GLNCY-OTC former head of oil Alex Beard has been charged with bribery offences relating to the Swiss commodity trader’s operations in Africa, Britain’s Serious Fraud Office (SFO) said on Thursday.

Beard, 56, is charged with two conspiracies 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, the SFO said.

He is one of five ex-Glencore employees charged with conspiracy to make corrupt payments.

Andrew Gibson, Paul Hopkirk, Ramon Labiaga and Martin Wakefield have also been charged and all five are due to appear at London’s Westminster Magistrates’ Court on Sept. 10.

A Glencore spokesperson did not immediately respond to an e-mail seeking comment. Neither the individuals named nor their representatives could immediately be reached for comment.

SFO Director Nick Ephgrave said in a statement: “Bribery damages financial markets and causes lasting harm to communities.

“Today’s action is an important step toward exposing overseas corruption and holding those who are responsible to account.”