Guilty Plea in Ecuadorian Bribery Case Places Commodity Trading Corruption in Limelight

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Wednesday, April 28, 2021
Author: 
Teddy David
Volume: 
37
Issue: 
5
Abstract: 

On April 6, 2021, Raymond Kohut, a Canadian citizen, pleaded guilty in the U.S. District Court in Brooklyn to the Department of Justice (DOJ) prosecution of a Ecuadorian bribery case relating to his former employer, the Swiss commodities trading firm Gunvor Group. The case is representative of prosecutors’ willingness to pursue corruption charges against individuals as well as of prosecutors’ targeting of commodities traders for offenses such as bribery and money laundering.