The centerpiece of an alleged $600 million nickel fraud, businessman Prateek Gupta, is reportedly facing severe financial constraints as he struggles to pay £330,000 ($418,920) in legal fees. The revelation points towards deepening financial troubles for Gupta.
Global commodities giant Trafigura Group had previously accused Gupta of pulling off an expansive fraud. The company asserts that despite paying close to $600 million for nickel, they were left with nothing more than worthless rubble.
In December, Gupta’s endeavor to get a court freeze on his assets lifted was unsuccessful, with the judge expressing that Gupta failed to provide convincing evidence of Trafigura staff being aware of the situation. More details on the matter can be found in the Bloomberg report.