Vitol to pay $95.7 million to settle fraud, market manipulation charges

  • 12/3/2020
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WASHINGTON (Reuters) - Energy and commodities trading firm Vitol Inc has agreed to pay $95.7 million to settle charges of corruption-based fraud and attempted market manipulation, the U.S. Commodity Futures Trading Commission on Thursday. Houston-based Vitol did not admit or deny the charges, but agreed to pay the civil penalties related to making bribes and offering kickbacks to employees of certain state-owned entities in Brazil, Ecuador and Mexico in exchange for “preferential treatment and access to trades,” the regulator said.

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