Marc Rich

Who was Marc Rich?

Marc Rich was an international commodities trader, hedge fund manager, financier and businessman. Active in the spot market for crude oil, he became a commodities trader. He was best known for founding the commodities company Glencore and for being indicted in the United States on federal charges of tax evasion and illegally making oil deals with Iran during the Iran hostage crisis. He was in Switzerland at the time of the indictment and never returned to the United States. He received a controversial presidential pardon from U.S. President Bill Clinton on January 20, 2001, Clinton's last day in office.