Swiss firms accused of collusion in oil corruption and laundering of conflict gold

Traders collude in oil corruption, says Swiss NGO : “Swiss-based commodity traders are profiting from “opaque joint ventures” with the Nigerian national oil company, according to a report by the Swiss non-governmental Berne Declaration group. The traders have denied the charge.”

Did Swiss refinery launder Congo conflict gold? : “The Federal Prosecutor’s Office has opened an investigation into Swiss refiner Argor-Heraeus, accused of laundering huge quantities of conflict gold from northeast of the Democratic Republic of the Congo (DRC). The firm rejects the charges.”

“Argor-Heraus is one of the world’s most important refiners and is partly owned partly by German company Heraeus, Commerzbank International of Luxembourg, and by the Austrian Mint of Vienna. Former Swiss cabinet minister Adolf Ogi sits on the board of directors.”

“In an average year, Switzerland refines about 70 per cent of the world’s gold.”



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