Glencore’s former head of oil trading, Alex Beard, has pleaded not guilty to two bribery charges in a case brought by the Serious Fraud Office (SFO). Beard, 59, denied the allegations at Southwark crown court in London on Thursday, joining his former deputy Andrew Gibson, who also denied charges related to corrupt payments and falsifying documents. The case centers on alleged payments to West African officials to advance Glencore’s operations in Nigeria and Cameroon between 2007 and 2014.

Beard, who rose to prominence during Glencore’s 2011 flotation on the London Stock Exchange, is accused of being part of a conspiracy to make corrupt payments to government or state-owned oil company officials in Nigeria and Cameroon. Gibson, 66, also faced additional charges of conspiracy to falsify documents for accounting purposes. Four other former Glencore traders had previously pleaded not guilty to all charges in the same case. The six defendants are scheduled to stand trial in October 2027.

The SFO stated it continues to progress its bribery case against the six former Glencore employees. The allegations are based on the SFO’s investigation, which has not been independently verified. The case highlights ongoing scrutiny of corporate practices in resource-rich regions, where allegations of corruption have frequently surfaced.

The charges against Beard and Gibson relate to a broader pattern of alleged misconduct within Glencore, a Swiss commodity trading company. The SFO’s case is part of a global effort to combat corporate corruption, particularly in sectors involving natural resources. While the SFO has provided details of the alleged conspiracy, no evidence has been presented in court, and the defendants have not yet been charged with any specific acts of bribery.

The company has not commented on the allegations or the legal proceedings. The case remains under investigation, and the outcome will depend on the evidence presented during the trial. The SFO’s statement indicates the case is progressing, but no further details on the nature of the alleged payments or the identities of the officials involved have been disclosed.

The trial, set for October 2027, will determine whether the allegations against Beard and the other defendants are substantiated. The case underscores the complexities of prosecuting corporate corruption, particularly in jurisdictions with limited transparency. While the SFO has outlined the charges, the lack of public details on the alleged payments and the officials involved means the full scope of the case remains unclear. The outcome could have significant implications for Glencore and the broader commodity trading industry.