Former Trafigura Executive Convicted in Swiss Bribery Case
Switzerland’s highest court has convicted commodities trader Trafigura and its former COO, Mike Wainwright, of bribery linked to Angola’s oil sector. Wainwright received a 32-month sentence, while the company faces a $148 million fine.

Switzerland's highest court has convicted commodities trading giant Trafigura and its former chief operating officer, Mike Wainwright, of bribery in a landmark ruling. The case, which centers on payments made to secure access to Angola's oil market, marks the first time an entire company has faced such charges at the country's highest judicial level. Wainwright, a British national who has also competed as a racing driver, was sentenced to 32 months in prison, while Trafigura was fined $148 million (£119 million).
The court found that between 2009 and 2011, Trafigura engaged in a complex bribery scheme, using a network of middlemen and offshore shell companies to pay nearly $5 million (£4.02 million) to an official from Angola's state oil company. The payments, which were documented on Trafigura’s own letterhead, allegedly helped the company secure contracts worth approximately $144 million (£115.93 million) over the following years. Despite these findings, Trafigura has denied any wrongdoing, emphasizing that its compliance and anti-corruption measures have been independently assessed as robust.
Wainwright and Trafigura plan to appeal the verdict, meaning the former executive has not yet been taken into custody. However, the court ruled that Wainwright must serve at least one year of his sentence. The ruling has sent shockwaves through Geneva’s commodity trading sector, where Trafigura and other major firms are headquartered, raising concerns over increased scrutiny of industry practices.
Swiss prosecutors framed the case as a turning point in the fight against corporate corruption, bringing the charges to the country’s highest court—a venue typically reserved for the most severe crimes, such as terrorism. They argued that despite Trafigura’s formal anti-corruption policies, internal emails and documents showed an intentional effort to bypass those safeguards, with a key intermediary even dubbed "Mr. Non-Compliant" within company communications.
Adding an unexpected twist, a fire broke out at Geneva's luxury Hotel des Bergues the night before the verdict was announced. Court documents revealed that in 2008, an Angolan official linked to the case had stayed at the hotel at Trafigura’s expense. While the fire’s cause remains unclear, its timing added another layer of intrigue to a case already described as a financial thriller.