Trafigura Pte Ltd & Anor v Prateek Gupta & Ors

A claimant who establishes that it was the victim of a fraudulent scheme (here a 'fraud on a grand scale' in which worthless cargo was passed off as LME-grade nickel) may recover its losses against the individual who masterminded the fraud and the corporate entities he controlled, where the alleged consensual side-arrangement relied on by the defendants is rejected on the evidence.