Clarence Chang Suspended From Glencore Following Bunker Bribe Charges Relating to Former BP Role: Sources

Friday March 17, 2017

Clarence Chang has been suspended from his current role within Glencore pending further investigation following news last week he was charged by authorities in Singapore with taking bribes amounting to US$3.95 million, a source close to the matter has told Ship & Bunker.

Rumours circulating the market suggesting he has been dismissed are incorrect, the source added.

Chang's charges relate to his time as BP's eastern regional director for marine fuels between 2006 and 2010, and there is no suggestion of any connection to his current role.

"Chang has been charged, and while this is probably the biggest scandal to hit the market since the OW collapse, the case has yet to be heard," a separate source commented to Ship & Bunker.

Glencore has confirmed to Ship & Bunker it is aware of the charges but declined to make any further comment at this time.

As Ship & Bunker reported last week, Chang was said to have taken the bribes from Koh Seng Lee, the Executive Director of Pacific Prime Trading Pte Ltd (PPT), "as an inducement for advancing the business interest of PPT with BP."

The court has adjourned the case until April 6.