Switzerland’s top criminal court convicted a multinational company for the first time, ruling against commodities trader Trafigura in a case of bribery linked to lucrative oil industry contracts in Angola.

Trafigura and its former chief operating officer were convicted by a Swiss court on bribery charges, the first time a senior executive at a major commodity trading house has been found guilty of corruption.

Switzerland's top criminal court on Friday found Trafigura and a former executive guilty of corruption in a case involving payments made to an Angolan official in exchange for oil contracts.

Switzerland's top criminal court has convicted Trafigura and former executive Mike Wainwright of corruption through bribes for Angolan oil contracts. The firm must pay $148 million in fines, with Wainwright sentenced to 32 months in prison.

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.

Swiss judges will issue a verdict on Friday in a corruption trial involving commodities trader Trafigura and three other defendants who allegedly paid bribes to an Angolan oil official in exchange for oil deals.

A historic verdict in Switzerland has seen trading giant Trafigura and a former executive convicted of corruption, marking the first such case at the country's top criminal court. The charges involve bribery of an Angolan official for oil contracts,

A Swiss court convicted Trafigura and three people linked to the commodities trading firm of corruption in Angola, in what campaigners hailed Friday as a "historic" first in Switzerland. Switzerland is home to some 900 commodities trading firms,