Glencore’s Access World unit was drawn into a London lawsuit over losses from a finance deal that allegedly relied on forged warehouse receipts for nickel, reigniting concerns about fraud in the storage of commodities. a London lawsuit over losses from a finance deal that allegedly relied on forged warehouse receipts for nickel, reigniting concerns about fraud in the storage of commodities.
Natixis SA sued broker Marex Financial after losing about $32-million on a sale-and-repurchase agreement. The French bank says receipts for storage of the nickel used as collateral in the lending deal were forged, according to its documents from the case. Marex brokered the deal on behalf of its client, Come Harvest Holdings.
