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Vitol to pay $95 million to resolve US CFTC's first foreign-corruption case

( December 3, 2020, 20:13 GMT | Official Statement) -- MLex Summary: Vitol, a Swiss-based company that trades oil on US and other markets, agreed to pay $95 million to settle fraud claims brought by the US Commodity Futures Trading Commission. CFTC said Vitol bribed state-oil company officials in Brazil, Mexico and Ecuador and attempted to manipulate oil price benchmarks. The payment included $12.7 million in disgorgement and a civil penalty of $83 million, $67 million of which could be offset by Vitol payments to the US Justice Department or to Brazilian authorities to resolve related charges.Statement follows. See attached order....

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