Trafigura's Nickel Nemesis Was Already Notorious in Metal Circles
(Bloomberg) -- When news broke that Trafigura Group faces more than half a billion dollars in losses from what it described as a “systematic fraud,” the biggest surprise for many market insiders wasn’t the commodity trader’s missing nickel cargoes. It was that one of the industry’s largest players was still doing business with a man that others had long since backed away from. Indian businessman Prateek Gupta and his companies, against whom Trafigura secured a $625 million freezing order this week, have a checkered history in the trading world. Trafigura Faces $577 Million Loss After...
Source: swissinfo.ch