CFTC orders Trafigura to pay $55M over fraud, impeding whistleblowers


Singapore-based commodity trading company Trafigura will pay $55 million to the Commodity Futures Trading Commission (CFTC) to settle charges related to fraud, manipulation, and impeding whistleblower communications with the agency. 

Trafigura used material nonpublic information from an employee of a Mexican trading company its traders knew or were reckless in not knowing, the CFTC alleged in a press release Monday.

In February 2017, the company manipulated a fuel oil benchmark to benefit its futures and swaps positions and violated the Mexican employee’s duties to the trading entity where they worked, the agency added.

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