What the cases cost and what they yielded

Worked example. The three Geneva cases described in this chapter cost the companies concerned, in Switzerland alone, approximately CHF 94 million for Gunvor in 2019, CHF 86.7 million in 2024 for the Ecuadorian case, a fine of CHF 2 million and a compensatory claim of USD 150 million for Glencore in 2024, and a fine of CHF 3 million and a compensatory claim of USD 145 million for Trafigura in 2025. The total thus comes to almost CHF 500 million, without counting foreign fines, legal fees, compliance programmes and lost business. The compensatory claims, which absorb the profits from the contracts obtained through corruption, are paid to the Confederation, which in some cases has shared part of them with the injured states. Measured against the annual profits of these houses, which run into billions, these amounts are bearable. Measured against their reputation and their access to financing, they have weighed more heavily. All three houses have, moreover, transformed their compliance since then.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

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Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

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