The BBC is reporting that Switzerland's highest court has convicted the commodities trading firm Trafigura and one of its senior executives of bribery over payments made by the firm to gain access to Angola's lucrative oil market.
In a landmark case, the court handed the company's British former chief operating officer Mike Wainwright, who has also competed as a racing driver, a 32-month jail sentence and fined the company $148m (£119m).
This is the first time an entire company has been charged by Switzerland's highest court, and bribery convictions of senior staff are rare.
Trafigura's lawyers said the company and Wainwright intended to appeal against the verdict, so the former executive was not jailed immediately.
The case against Trafigura included millions of dollars, shady middlemen and a chain of shell companies located in offshore havens.
Trafigura's strategy, the court heard, was to set up a complex payment web, through which an official with Angola's state oil company was paid almost $5m (£4.02m; €4.81) between 2009 and 2011.
Trafigura now faces a large fine and Wainwright, who was in court for the verdict and denied the charges, was told he must serve at least one year of his 32 month sentence in jail.
However, he was not immediately detained, pending the appeal he intends to lodge.
Jamaica
Trafigura was at the centre of a scandal that crippled the administration of Jamaica's Prime Minister, Portia Simpson Miller, in 2006.
The company's controversial financial contribution to the governing People's National Party became the subject of a long investigation and litigation.
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