Alex Beard, the former head of oil at Glencore, has been charged with bribery offences related to the company’s operations in Africa, as announced by Britain’s Serious Fraud Office (SFO). Beard, 56, faces charges for two conspiracies to make corrupt payments to government officials and officials of state-owned oil companies in Nigeria from 2010 to 2014, and in Cameroon from 2007 to 2014.
He is one of five former Glencore employees charged with conspiracy to make corrupt payments, marking him as the most high-profile commodity trader charged in Britain for alleged corruption. Beard joined Glencore in 1995 after working at BP and became head of oil in 2007, a role he held until his retirement in 2019.
Others charged include Andrew Gibson, Paul Hopkirk, Ramon Labiaga, and Martin Wakefield, all linked to Glencore’s operations in Nigeria, Cameroon, and Ivory Coast. Gibson and Wakefield also face charges for conspiracy to falsify documents between 2007 and 2011. The five individuals are scheduled to appear at London’s Westminster Magistrates’ Court on September 10.
A Glencore spokesperson stated that the company has cooperated with the SFO during its investigation and resolved its own investigation in 2022. The spokesperson emphasized that such conduct has no place in Glencore and highlighted the company’s commitment to ethical practices.
SFO Director Nick Ephgrave remarked that bribery undermines financial markets and harms communities, emphasizing the importance of holding those responsible accountable.