Trafigura Wins $625 Million Freezing Order After Finding Fraud

Commodities trader Trafigura Group, which says it’s facing huge losses from a “systematic fraud” involving missing nickel, secured a $625 million freezing order against the Indian businessman involved in the deals.

Lawyers for the commodity giant won a freezing order against Prateek Gupta and several companies connected to him from a London judge at an urgent hearing on Feb. 8, according to a court order. The ruling prohibits Gupta from moving funds or disposing of them in any way.

Trafigura said Thursday it had spent the past two months uncovering what it believes is a systematic fraud against it and ...