- 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.
Businessman accused by Trafigura living in Dubai's Palm Jumeirah-court document
Indian businessman Prateek Gupta, whom commodity trader Trafigura has accused of "systematic fraud" regarding nickel shipments, is living in the sought-after Palm Jumeirah area of Dubai, London court documents said.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/VIYXV2EZDVMBJEYVGATULRC6CA.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/RCWZE2OK3BNCJNRVFOS74NYF7M.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/6W5WJY7T4NLKVFJO5JX37LPYS4.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/BYL7ESQPMFMSNNVJSVCYKYTPH4.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/OGBROYPEZVMVNLCKMBDIE2XJCE.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/JG3AL7UAGVPBJHJUNQS4YZL4SE.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/VIYXV2EZDVMBJEYVGATULRC6CA.jpg&description=Businessman%20accused%20by%20Trafigura%20living%20in%20Dubai's%20Palm%20Jumeirah-court%20document){kind=link}