Commodity trader Trafigura faces USD 577m loss after uncovering nickel fraud

After learning that procured metal cargoes didn’t contain the right amounts of nickel, trading company Trafigura stands to lose more than half a billion dollars.

Photo: Denis Balibouse/Reuters/Ritzau Scanpix

By Archie Hunter and Jack Farchy, bloomberg news

Commodity trader Trafigura Group is facing more than half a billion dollars in losses after discovering metal cargoes it bought didn’t contain the nickel they were supposed to.

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