One of the world’s five largest commodity trading houses, Mercuria, received a cargo of painted rocks instead of copper, for which it had agreed to pay $36 million to a Turkish supplier, Bloomberg has reported, adding that the copper was switched with rocks before the cargo set off for China. An investigation into the affair revealed that the copper—all 6,000 tons of it divided into 300 containers—was switched gradually during the night to avoid detection.
According to Mercuria’s Istanbul lawyer who spoke to Bloomberg, the…Oil Trader Mercuria Gets Painted Bricks, Not Copper In $36 Million Scam
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