Trafigura, a global commodities trading company, has reportedly suffered a significant loss estimated at over $1 billion due to an alleged oil fraud scheme in Mongolia. The case involves the manipulation of crude oil prices and transactions between Trafigura and its partners. An investigation is underway to determine the extent of the fraudulent activities and potential damages.

Source: https://www.bloomberg.com/news/articles/2024-11-02/trafigura-mongolia-oil-fraud-how-trader-faces-1-billion-loss