In a defence filed to the London court on Wednesday afternoon, lawyers for Prateek Gupta said that Trafigura employees had proposed an arrangement to agree contracts for the sale of nickel but in fact to trade other material.

Trafigura in February secured a freezing order against Gupta, alleging that his companies had sold it cargoes of nickel that turned out not to contain any of the metal.

http://www.miningnewspro.com/en/News/623130/Alleged fraudster Gupta says Trafigura ‘devised’ nickel scheme