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French bank Natixis claws back $32 million from Marex in warehouse fraud case

By Annie Robertson ( October 2, 2019, 14:00 GMT | Insight) -- Commodities broker Marex Spectron has been ordered to pay French bank Natixis $32 million to cover losses and damages from forged warehouse receipts for the storage of almost 3,000 metric tons of nickel. The High Court in London, handing down the ruling today, said Marex could recover part of the sum from Access World Logistics, a unit of Swiss mining company Glencore that had stored the nickel in warehouses in Asia.Commodities broker Marex Spectron has been ordered to pay French bank Natixis $32 million to cover losses and damages from forged warehouse receipts for the storage of almost 3,000 metric tons of nickel.   ...

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