Trafigura secures $500 million in nickel fraud lawsuit against Prateek Gupta
Trafigura Secures Legal Win Against Prateek Gupta After a lengthy series of legal disputes, Trafigura has achieved a significant legal victory. A judge held businessman Prateek Gupta accountable for a fraudulent nickel cargo scheme, ordering the Swiss trading firm to receive $500 million in damages. The judgment from the London High Court stated, “Trafigura was […]
Traders Vitol and Trafigura take part in White House discussions about Venezuela’s oil.
U.S. Engages Commodity Traders for Venezuelan Oil Talks LONDON/NEW YORK, Jan 8 – The administration of U.S. President Donald Trump recently extended an invitation to leaders of commodity trading firms Vitol and Trafigura for discussions at the White House regarding the marketing of Venezuelan oil, according to sources who are familiar with the situation. European […]
Trafigura Cautions About “Super Glut” as Oil Supply Increases – Crude Oil Prices Today
Oil Market Facing Severe Oversupply, Says Trafigura’s Chief Economist Saad Rahim, the chief economist at Trafigura, a leading commodity trading firm, recently highlighted a growing concern for the oil market. He pointed out that a “super oversupply” of oil is anticipated next year, driven by a spike in new supply amid a sluggish global economy. […]
Businessman refutes claims of sending missing Trafigura millions to wife or businesses
Indian Businessman Denies Fraud Allegations Prateek Gupta, an Indian businessman, has pushed back against claims that he funneled millions to his wife and associated corporate entities, as Trafigura alleges that the missing funds are part of a larger fraud scheme. According to the commodity trading company, it has incurred losses of around $600 million, claiming […]
Businessman charged in Trafigura nickel case starts trial
Trafigura Group Faces Trial Over Alleged Nickel Fraud Two years after Trafigura Group lost over $500 million due to an alleged nickel fraud, the trial has commenced as the company seeks to recover its losses from those it claims orchestrated the scheme. The proceedings kicked off on Monday at London’s High Court, involving Trafigura, a […]
Trafigura takes zinc out of LME warehouses, with some destined for shipment to the US, sources report.
Zinc Shipments from Trafigura and Market Impacts LONDON/BEIJING – Trafigura, a merchandise trader, is reportedly collecting significant amounts of zinc from a London Metal Exchange-approved warehouse situated in Singapore and sending portions of it to the United States, according to sources close to the matter. The exact quantity of zinc already delivered from these warehouses […]
Strategy chief to depart Trafigura in recent high-level exit from commodities firm
Trafigura’s Strategic Changes: Departure of Julien Rolland Julien Rolland, who has been with Trafigura for nearly two decades, is preparing to leave the company. His exit is part of a broader shift as new CEO Richard Holtum starts implementing his vision. Rolland has played a crucial role in the company’s investment strategies, particularly in renewable […]
Trafigura Bets Troubled Carbon-Credits Market Headed for Rebound – Yahoo Finance
(Bloomberg) – Commodity trading giant Trafigura Group believes a new regulatory framework will push carbon credits into the mainstream of emissions accounting, driving record growth in the beleaguered carbon credits market. We are aiming for Most Read Articles on Bloomberg Hannah Haumann, global head of carbon trading at Trafigura, said “increasing and tightening regulations” aimed […]
Trafigura names Richard Holtum as new CEO By Reuters – Investing.com
Robert Harvey (Reuters) – International finance company Trafigura said on Tuesday that Richard Holtham will take up the role of chief executive officer from Jan. 1 next year. Jeremy Weir, who has served as CEO for more than 10 years, will step down and become group chairman on the same day. Holtum, who will join […]
Trafigura AI Boom Could Spark a Copper Shortage – OilPrice.com
The chief economist at commodity trading giant Trafigura has warned that the copper market could become even tighter due to the impact of artificial intelligence. Speech in the Financial Times merchandise Speaking at the summit in Switzerland, Trafigura chief economist Saad Rahim said there had been a “sudden explosion” in growth as a result of […]