Fraud police probing ex-Glencore staff plan to press charges
British prosecutors investigating former Glencore Plc employees over bribery allegations said they plan to bring long-awaited criminal charges.
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Visit: 140
Trader Gerald Group says it was hit by $49 million tin fraud
Commodity trading house Gerald Group said it paid almost $49 million for tin that turned out not to be tin.
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Visit: 95
US imposes sanctions on Guyanese mining magnate over alleged fraud
The United States on Tuesday imposed sanctions on Guyanese mining magnate Nazar Mohamed and his son over allegations the two men defrauded Guyana’s government of tax revenues and bribed public officials, the Treasury Department said.
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Visit: 131
Trafigura settles billionaire Reuben brothers’ nickel fraud suit
Commodity trader Trafigura Group has settled a London lawsuit brought by the billionaire Reuben brothers after selling them a cargo of “nickel” that was part of a high-profile fraud.
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Visit: 171
Alleged fraudster Gupta says Trafigura ‘devised’ nickel scheme
Mining News Pro - The man accused by Trafigura Group of being behind a $590 million nickel fraud finally responded to the allegations, claiming that Trafigura itself “devised and proposed” the scheme.
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Visit: 295
Trafigura says accused fraudster’s wife not a bystander
Mining News Pro - Commodities trader Trafigura Group, which is investigating a $577 million nickel fraud, had an asset freeze extended to the alleged fraudster’s wife, saying in a London court that she is not a “wholly innocent bystander.”
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Visit: 284
Trafigura tells its banks they aren’t exposed to nickel fraud
Mining News Pro - Trafigura Group is briefing lenders that none of its banks have direct exposure to the nickel deals at the center of what the commodity trader is calling a systematic fraud perpetrated against it.
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Visit: 317
Ex-platinum partners fund manager guilty in $70 million fraud
Mining News Pro - A former Platinum Partners fund manager was found guilty of engaging in a fraud scheme to rig a bond vote at an an oil and gas company.
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Visit: 796
Mining is the industry most at risk for fraud
Mining News Pro - SEON reported that despite the increase in reported fraud cases and the large median financial loss, the median financial loss in mining fraud has decreased in the last four years – by 5%.
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Visit: 559
Otso Gold CEO detained in Finland on suspicion of fraud
Mining News Pro - A former CEO of Otso Gold, Brian Wesson, has been detained in Finland and remains in pre-trial custody under criminal suspicion of aggravated embezzlement and payment fraud, the company has disclosed.
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Visit: 531
UK fraud unit finds alleged bribe network behind cobalt hub
Mining News Pro - U.K. prosecutors have told Swiss authorities they have proof of an alleged money-laundering ring spanning from Africa to Europe that paid almost $380 million in cash bribes to authorities in the Democratic Republic of Congo.
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Visit: 578
UK fraud unit finds bribe network behind world’s cobalt hub
Mining News Pro - UK prosecutors have told Swiss authorities they have proof of an alleged money-laundering ring spanning from Africa to Europe that paid almost $380 million in cash bribes to authorities in the Democratic Republic of Congo.
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Visit: 468
Singapore nickel trader’s lavish lifestyle allegedly fueled by $740m fraud
Mining News Pro - At 33, Ng Yu Zhi had all the trappings of a wildly successful trader: a Rolodex full of rich clients, a three-story villa in a posh Singapore neighborhood and a Pagani Huayra supercar reportedly worth more than $5 million.
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Visit: 858
US judge rejects SEC bid to expand Rio Tinto fraud lawsuit on Mozambique coal business
Mining News Pro - AUS judge on Wednesday quashed a bid to widen the scope of a civil lawsuit by the US Securities and Exchange Commission that accused miner Rio Tinto of fraud at its Mozambican coal business, a court filing showed.
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Visit: 743
Codelco gets $22 million refund from insurance fraud
Mining News Pro - Chile’s Codelco, the world’s top copper producer, has secured a $22 million-refund corresponding to damages caused to the company and its workers as a result of life insurance overpricing between 2005 and 2018.
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Visit: 492
Chilean Mining Commission to investigate insurance fraud denounced by Codelco
Mining News Pro - The Chilean parliament’s Mining Commission announced that it will investigate allegations against an insurance company accused by Codelco of inflating policies for workers at the Radomiro Tomic y Chuquicamata copper mines.
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Visit: 571