Wainwright Convicted in Bribery Case

Longtime FIA World Endurance Championship and European Le Mans Series competitor Mike Wainwright has been convicted for his role in a bribery case over payments made to an Angolan official in exchange for oil contracts.

According to multiple media reports, a Swiss court sentenced Wainwright, the former CEO of commodities trading firm Trafigura, to a 32-month jail sentence, 12 of which must be served.

The company, meanwhile, was ordered to pay a fine of 3 million Swiss francs ($3.3 million USD) and $145.6 million in compensation.

The case was notable, as it marked the first time that a company was charged with corrupting a foreign official by Switzerland’s highest court, while the conviction of a member of senior staff is also rare.

Prosecutors alleged that Trafigura and other paid over $5 million in bribes to the Angolan official to win oil deals in a period spanning from 2009 to 2011.

Two other defendants, including the official in question, were also found guilty and sentenced to 36 months and 24 months in jail, although their sentences were partially suspended and fully suspended, respectively.

Wainwright has denied the allegations, with a Trafigura spokesperson stating the company was “disappointed” with the verdict and was “reviewing the matter,” although it is unclear at this time whether the firm planned to appeal.

Meanwhile, Wainwright’s lawyer Daniel Kinzer said in a statement supplied to Reuters: “Today’s verdict lacks grounding. The court found Mr. Wainwright guilty based on general assumptions and disregarded key evidence that shows he was not involved in any bribery scheme.”

Wainwright has held a presence in GT racing since 2011 and was a regular in WEC’s GT ranks from 2016 to 2023, competing in the 24 Hours of Le Mans ten times.

His GR Racing squad was listed on the 44-car provision entry list for this year’s ELMS season released in December, although the team’s status is currently unclear. The European series kicks off in Barcelona in April.