PRESS: Glencore Made USD1 Billion Of Loans To Dan Gertler - WSJ

LONDON (Alliance News) - Switzerland-based Glencore PLC gave almost USD1 billion to companies ...

Alliance News 14 January, 2019 | 2:48PM
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LONDON (Alliance News) - Switzerland-based Glencore PLC gave almost USD1 billion to companies associated with US-sanctioned businessman Dan Gertler, the Wall Street Journal said Monday.

The loans were made over a 10-year period beginning in 2007, the WSJ said, to help finance some of Gertler's investments in the Democratic Republic of the Congo, where Gertler is accused of having corrupt ties to the government.

Gertler filed royalty claims against Glencore in April last year worth over USD3.7 billion against Glencore, with Glencore eventually agreeing to the payments.

https://www.wsj.com/articles/glencore-gave-loans-to-businesses-linked-to-suspect-congo-dealings-11547470801

By George Collard; georgecollard@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Glencore PLC 278.25 GBX -0.71
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