Commodities Traders Sue Brits For $1M In Bank Fraud Claim
Law360, London (March 13, 2020, 3:03 PM GMT) -- Two Swiss gold traders have sued a British company and its directors in London for allegedly misappropriating nearly $1 million transferred from Lloyds Bank accounts without authorization overseas.
Global Metals AG and Silcasur AG accused Colony Capital Ltd. and its directors, Richard Winter, James Tierney and Sarabjit Khera, of fraud and deceit in the High Court lawsuit filed in January.
The commodities companies claim that the Colony Capital directors transferred approximately $900,000 from bank accounts set up for Global Metals and Silcasur to accounts in Germany, the U.S. and Switzerland controlled by Bluestem Ltd., another defendant in the case.
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