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5/24, 5:19 PM (Source: TeleTrader)
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Glencore to plead guilty for corruption charges in US - report

Swiss mining giant Glencore Plc will plead guilty to corruption allegations and breaching the Foreign Corrupt Practices Act in the United States on Tuesday, people familiar with the matter said to the Wall Street Journal.

"Glencore will appear in court in the United States and the United Kingdom later today in connection with proposed resolutions of the relevant investigations," the company confirmed to the outlet.

The company has also been the subject of a US market manipulation investigation in addition to bribery claims, notifying it will pay $1.5 billion-worth fines to cover penalties it faced by the US Department of Justice, Commodity Futures Trading Commission, United Kingdom's Serious Fraud Office, and the Brazilian Federal Prosecutor’s Office. The company's executives have already left the business while their activities were investigated by authorities.

Baha Breaking News (BBN) / AB