Glencore's former head of oil trading denies bribery charges
Billionaire Alex Beard, Glencore's former head of oil trading, pleaded not guilty in a London court to two bribery-related conspiracy charges tied to alleged payments to West African officials. He is among six former Glencore employees due to stand trial next year.
Alex Beard, the billionaire former head of oil trading at Swiss commodities giant Glencore, pleaded not guilty on Thursday to two counts of conspiracy to make corrupt payments. The 59-year-old entered his plea at Southwark crown court in London, in a case brought by the UK's Serious Fraud Office (SFO).
Beard first became publicly known as a billionaire in 2011, when Glencore floated on the London Stock Exchange. He now faces allegations of involvement in a scheme to make corrupt payments to government or state oil company officials in Nigeria between 2010 and 2014, and in Cameroon between 2007 and 2014, in order to advance Glencore's business interests in the region.
Appearing relaxed in an open-neck shirt and sports jacket, Beard stood in the dock alongside his former deputy, Andrew Gibson, who served as Glencore's head of oil operations. Gibson, 66, denied four counts of conspiracy to make corrupt payments in Nigeria, Cameroon and Côte d'Ivoire, as well as an additional charge of conspiracy to falsify accounting documents.
Four other former Glencore traders named in the same case — Martin Wakefield, David Perez, Paul Hopkirk and Ramon Labiaga — already pleaded not guilty to all charges last year.
All six defendants are scheduled to face trial next year. An SFO spokesperson said the agency continues to progress its bribery case against the six former Glencore employees ahead of the trial date, set for 4 October 2027.
