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Trafigura says it won $600 million nickel fraud lawsuit against businessman Gupta

ReutersJan 30, 2026 2:08 PM

- Trafigura on Friday said it had won its London lawsuit against Indian businessman Prateek Gupta over fake nickel cargoes at London's High Court.

Geneva-based Trafigura alleged Gupta was the mastermind of a fraudulent "Ponzi scheme" in which he and his companies agreed to provide high-quality 99.8% pure nickel but delivered low-value or even worthless materials instead.

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