Financial Crime Financial Crime

Former Balli executives convicted in UK over $150 million trade finance fraud

By Martin Coyle
  • 02 Feb 2023 14:09
  • 02 Feb 2023 14:24
Two former senior executives at Balli Steel, the collapsed Anglo-Iranian commodities trader, were found guilty today in a UK court for their roles in a scam that saw five trade finance banks lose $150 million.
Another executive was cleared of fraud charges, following the Serious Fraud Office-led prosecution.

Prosecutors accused

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Martin Coyle

Senior Correspondent

Martin Coyle is a senior correspondent, based in MLex's London office, reporting daily on bribery and corruption issues in the UK and Europe. Previously he was a senior editor at Thomson Reuters where he covered anti-money laundering, financial crime and regulatory enforcement issues. Prior to that he was editor of The Accountant, the world's oldest accounting publication, and International Accounting Bulletin, a bi-monthly business journal owned by Lafferty.

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