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 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.

A Swiss court has convicted trading giant Trafigura and its former operating chief Mike Wainwright on bribery charges linked to shipping deals in Angola. Wainwright, the former chief operating officer, was sentenced to 32 months in jail by a court in Bellinzona, Switzerland, with 20 months suspended.

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.

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.