Another Metals Trader Says It Has Been Hit by a Nickel Fraud
- US trader Kataman says it found containers full of steel waste
- Kataman details alleged fraud in lawsuits in London, Singapore
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Another trading house has been stung after buying a cargo supposedly containing nickel that turned out to be full of near-worthless rubble.
The latest example, detailed in lawsuits in London and Singapore, is separate from the $600 million alleged fraud against Trafigura Group that shocked the trading industry earlier this year, but it involves several of the same companies.