LONDON: Indian businessman Prateek Gupta, whom commodity trader Trafigura has accused of 'systematic fraud' regarding nickel shipments, is living in the sought-after Palm Jumeirah area of Dubai, London court documents said. Trafigura said on Feb 9 it had booked a US$577 million charge for the first half of
LONDON: Indian businessman Prateek Gupta, whom commodity trader Trafigura has accused of"systematic fraud" regarding nickel shipments, is living in the sought-after Palm Jumeirah area of Dubai, London court documents said.
A London High Court judge agreed to impose a US$625 million freezing order on assets controlled by Gupta and companies linked to him, which included a villa in Palm Jumeirah, the freezing order document said. "Trafigura does not know whether Mr Gupta is the beneficial owner of this property," said an affidavit by Joseph O'Keeffe, a lawyer representing Trafigura.
A villa on the island in July last year sold for 302.5 million dirhams , its developer Alpago Properties said in October without naming the buyer due to privacy reasons, setting a new record for the most expensive residential property ever sold in the emirate.
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