U.K. Fraud Unit Finds Bribe Network Behind World’s Cobalt Hub
Michael Kavanagh, 15 July 2021
U.K. prosecutors have told Swiss authorities they have proof of an alleged money-laundering ring spanning from Africa to Europe that paid almost $380 million in cash bribes to authorities in the Democratic Republic of Congo.
Companies repeatedly bribed officials to further their business interests in the mineral-rich nation, according to the Swiss court judgment that cited information from U.K. prosecutors. Congo is Africa’s biggest producer of copper and supplies about 70% of the world’s cobalt, a critical input for the batteries that power electric vehicles. Continue reading “Article: U.K. Fraud Unit Finds Bribe Network Behind World’s Cobalt Hub”
