Singapore-based commodity trading company Trafigura said it will disclose a $127 million provision related to the resolution of a Department of Justice (DOJ) investigation into alleged improper payments made in Brazil by former employees.
Trafigura published a statement Wednesday acknowledging the reserve, which it said it would disclose in its upcoming 2023 annual report. The company has been under investigation by regulatory authorities in the United States, Brazil, and Switzerland related to potential bribes paid via third parties it said occurred approximately 10 or more years ago.
