(Bloomberg) — 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.

Mike Wainwright, Trafigura’s ex-COO, was sentenced to 32 months in jail, of which 20 months are suspended, the Federal Criminal Court ruled on Friday in Bellinzona, Switzerland.

Switzerland, a key hub for the commodities trading sector, has been under pressure to prove it can be tough on an industry that’s long operated under a light regulatory touch. The ruling is a historic moment, with Trafigura the first company of its size in Swiss history to be convicted at trial for allowing the payment of bribes.

The case is the latest to shine a light on wrongdoing in the commodity trading industry. The judgment comes after most of the industry’s largest players, including Glencore Plc, Vitol Group and Trafigura itself, have admitted to corruption in countries from Brazil to South Sudan.

Trafigura, which had been charged through its Dutch holding company Trafigura Beheer BV, was found guilty of not having sufficient systems in place to prevent bribery, and was ordered to pay a fine of 3 million Swiss francs ($3.3 million). The company was also ordered to pay $145.6 million in a compensation claim to the Swiss Confederation.

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