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Mitsubishi Corp Loses $90 Million in Suspected Copper Fraud

Mitsubishi Corp. said it had suffered a loss of more than $90 million in China after uncovering suspected fraud by one of its copper traders.

The loss is the latest in a string of recent cases of alleged wrongdoing to hit major commodity trading houses, highlighting the risk that individual traders who handle billions of dollars in commodities may seek to enrich themselves at the expense of their own companies.

Mitsubishi Corp. said it had suffered a loss of more than $90 million in China after uncovering suspected fraud by one of its copper traders.

The loss is the latest in a string of recent cases of alleged wrongdoing to hit major commodity trading houses, highlighting the risk that individual traders who handle billions of dollars in commodities may seek to enrich themselves at the expense of their own companies.

Mitsubishi Corp. said it had suffered a loss of more than $90 million in China after uncovering suspected fraud by one of its copper traders.

The loss is the latest in a string of recent cases of alleged wrongdoing to hit major commodity trading houses, highlighting the risk that individual traders who handle billions of dollars in commodities may seek to enrich themselves at the expense of their own companies.

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