- Trafigura said it had booked a $577 million charge for first half of 2023 and was taking legal action after discovering some nickel cargoes it received did not contain the metal.
- A London High Court judge agreed to impose a $625 million freezing order on assets controlled by Gupta and companies linked to him, which included a villa in Palm Jumeirah.
- Palm Jumeirah is a man-made island shaped like a palm and regarded as one of the most sought-after areas of Dubai.
- A villa on the island in July last year sold for 302.5 million dirhams ($82.36 mln), its developer Alpago Properties said in October without naming the buyer due to privacy reasons, setting a new record for the most expensive residential property ever sold in the emirate.
Reuters — Business — Legal — Fraud — Investigations — Financial Crime
Businessman accused by Trafigura living in Dubai's Palm Jumeirah-court document
The London High Court imposed a $625 million freezing order on assets linked to Indian businessman Prateek Gupta, whom commodity trader Trafigura has accused of 'systematic fraud' regarding nickel shipments, including a villa on Dubai's Palm Jumeirah.