Trafigura Group, one of the largest commodity traders in the world may have been defrauded as much $577 million in a fraud involving nickel and companies it believed were controlled by the metal’s trader Prateek Gupta. Nickel was party to a violent short squeeze last March when LME suspended nickel trading after Nickel prices roughly doubled to all-time highs up 500% in a day. Nickel soared over $100,000 a ton to an all-time high on the London Metal Exchange when … Continue reading “Trafigura May Have Been Fleeced for $577 Million in Nickel Fraud”