SFO Secures Forfeiture Order In $700M Metals Fraud Case

Law360, London (June 7, 2021, 5:42 PM BST) -- The Serious Fraud Office said on Monday that it has secured a £247,911 ($351,576) account forfeiture order as the agency seeks to claw back money earned in a $700 million international metal trading scam that was uncovered in 2008.

The white-collar crime watchdog said it has claimed back almost £248,000 for the public purse from Virendra Rastogi, one of the operators of a scheme that fabricated customers and metal trades under the name of RBG Resources to secure billions of dollars in funding from banks.

The SFO uncovered the scam in 2008 and Rastogi and two other directors, Anand Jain and...

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