Trafigura Lost $600 Million: Accused Indian Businessman's Nickel Deals Called a 'Ponzi Scheme'!

Overview

Global commodities giant Trafigura Group is set to lose around $600 million from nickel financing deals with firms run by Indian businessman Prateek Gupta. Despite internal warnings raised as early as 2020, the company's lawyers in London have now described the situation as a 'Ponzi scheme,' with Trafigura claiming to be the sole victim. Gupta denies the allegations.