Trafigura became Mongolia's key fuel supplier around 2014, according to the same sources. Erdenesuren worked in the CGAM’s risk department for several years until 2018, the sources said.

Swiss trading house Trafigura is trying to track down $500 million in Mongolia following a year-long probe of staff and associates over a billion-dollar fraud scheme at its local fuel supply ...

Trafigura Group reported a sharp drop in profit as it took $1.1 billion in losses related to alleged employee misconduct in its Mongolian oil business.. The Mongolia losses mean Jeremy Weir’s ...

Trafigura Group’s $1.1 billion loss in a suspected multi-year fraud in Mongolia was a “humbling experience,” the trading giant’s new chief said in his first public comments on the scandal.

Trafigura is facing potential losses of up to $1.1 billion due to alleged fraud by employees tied to overdue debts in Mongolia. This new scandal comes as Trafigura’s profits have dropped 73% ...

Trafigura said it uncovered “serious misconduct” in its Mongolian oil business that could result in a loss of up to $1.1bn, dealing a blow to the Switzerland-based trading house as it ...

Global commodity trader Trafigura expects to set aside a $1.1 billion provision against misconduct by individuals in its Mongolian petroleum products supply business after an internal review, it ...

Trafigura's zinc and lead producer Nyrstar also led to a significant impairment of nearly $300 million in 2024. The $1.1 billion loss in Mongolia was accrued over five years.

LONDON – Trafigura Group is preparing to take a US$1.1 billion (S$1.46 billion) hit after discovering what it suspects was fraud involving employees in its Mongolian oil business.

Trafigura, a Geneva-based commodity trading house, said it will likely lose $1.1 billion due to misconduct in its Mongolia petroleum supply business. A company-led investigation found that around ...