Marc Rich, Fugitive Commodities Trader in 1980s, Dies at 78
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Marc Rich, the commodities trader who fled the U.S. to avoid federal indictments during the 1980s before President Bill Clinton pardoned him two decades later, has died. He was 78.
The businessman with a taste for flamboyant neckties and Cuban cigars was celebrated for inventing the spot-oil market and later became one of the most wanted white-collar fugitives in American history for 17 years. After leaving the U.S., he founded a commodities trading company that became the forerunner of today’s Glencore Xstrata Plc.