Trader and shipowner Trafigura is making a provision of $1.1bn after uncovering “serious misconduct” by staff involved in its Mongolian petroleum products supply business.
The findings were made by an internal review followed by an external “forensic” investigation, the group said.
The misconduct included manipulation of data and documents, resulting in inflated sums being paid by Trafigura, and deliberate concealment of overdue receivables, the commodities giant added.
