Trafigura Wins Nickel Fraud Case, Recovery Process Begins

In Trafigura PTE Ltd. v. Gupta[[1]], a London High Court ruled in favor of Trafigura in its USD 500 million lawsuit against businessman Prateek Gupta over fake nickel cargoes. Now the commodities trader will turn its attention to recovery from the man who orchestrated a fraudulent scheme in which he and entities he controlled agreed to provide high-quality 99.8% pure nickel but instead delivered low-value and worthless materials.