Belfast Telegraph

Fugitive oil trader dies of stroke

Marc Rich, founder of the Glencore Xstrata commodities giant who was one of the most famous fugitives from US justice in the 1980s and 1990s until being pardoned by Bill Clinton when he was president, has died of a stroke in Switzerland aged 78.

He will be buried in Tel Aviv on Thursday.

Glencore Xstrata's chief executive Ivan Glasenberg said: "He was a friend and one of the great pioneers of the commodities trading industry."

Rich made his fortune trading oil from controversial regimes, most notably Iran despite US sanctions. In 1983 the US authorities assembled a case of 65 indictments against him including wire fraud, mail fraud, racketeering, trading with the enemies of the US and tax evasion.

Belfast Telegraph

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