Businessman Accused in Trafigura Nickel Nightmare Goes on Trial

More than two years after it emerged that Trafigura Group lost over half a billion dollars in an alleged nickel fraud, a trial began as the trading giant attempts to recover losses from the man it says was behind the scam.

Proceedings kicked off at the High Court in London on Monday in the trial involving Trafigura — one of the world’s top commodities suppliers — and Indian businessman Prateek Gupta. Trafigura brought the claim after shocking the market in 2023 when it announced that almost $600 million of metal in containers that it bought didn’t contain the nickel ...