For the past three years, Glencore investors have been waiting for the axe to drop – ever since the commodities giant announced it was being investigated by the US Department of Justice for corruption and money laundering.
The news sent the shares plunging at the time and has been a drag ever since. The probe overshadowed the last few years for Glencore’s billionaire CEO Ivan Glasenberg – who built the company in its current form and remains a major shareholder – and has served as a constant reminder of the commodities-trading industry’s history of secrecy and corruption.
