Shipping and Commodity Academy

Luckin Coffee Accounting Fraud (2020) Full Story: Everything You Need to Know

Leon / 07 March 2024 / Commodity trading - Trade finance

Luckin Coffee, a Chinese coffee chain that was once considered a potential rival to Starbucks, has been embroiled in one of the biggest accounting scandals in recent years. In April 2020, the company disclosed that its chief operating officer had fabricated sales figures, which led to an investigation that uncovered a web of fraudulent transactions and accounting irregularities.

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Parmalat Scandal (2003): The Complete Story

Dan Venon / 06 March 2024 / Commodity trading - Trading companies

In 2003, one of the biggest financial scandals in Italian history came to light when Parmalat, the country's largest dairy company, collapsed. The scandal involved a massive fraud scheme that had been going on for years, involving fake accounting, embezzlement, and false statements to investors. The Parmalat scandal shook the Italian economy and led to widespread public outrage.

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Refco Scandal (2005): The Complete Story of the Financial Fraud

Leon / 05 March 2024 / Commodity trading - Trading companies

In 2005, the Refco scandal rocked the financial world, leading to the downfall of one of the largest commodities brokerages in the United States. The scandal involved allegations of fraud, hidden debts, and false accounting practices that ultimately led to Refco's bankruptcy and the criminal prosecution of several of its executives.

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The ADM Price-Fixing Conspiracy: Uncovering the Full Story

Renata / 04 March 2024 / Commodity trading - Trading companies

In the early 1990s, the Archer Daniels Midland (ADM) company was embroiled in a massive price-fixing conspiracy that rocked the agricultural industry. The ADM scandal involved executives from the company and several competitors, who were caught conspiring to fix the price of lysine, an amino acid used in animal feed. The scandal resulted in criminal charges, fines, and prison sentences for several high-ranking executives.

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The Amaranth Hedge Fund: The Complete Story

Leon / 01 March 2024 / Commodity trading - Trade finance

The Amaranth Hedge Fund is a name that still resonates with many in the investment world. Founded in 2000 by Nicholas Maounis, the fund was one of the largest in the industry, with assets under management reaching $9.2 billion at its peak. However, the fund's story is not one of unbridled success. In 2006, Amaranth suffered massive losses due to a failed natural gas trade, leading to its eventual collapse.

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