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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In 2006, a toxic waste scandal rocked the Ivory Coast. The incident involved the dumping of toxic waste by the multinational oil trading company, Trafigura, which resulted in the death of at least 17 people and caused thousands of others to suffer from health problems. The scandal has been the subject of numerous investigations, court cases, and media coverage, and continues to be a source of controversy and debate.
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In 1996, one of the biggest financial scandals in history rocked the copper market. Yasuo Hamanaka, a trader for Sumitomo Corporation, was accused of single-handedly manipulating the copper market and causing losses of over $2.6 billion for his company. The scandal sent shockwaves throughout the financial world and raised questions about the integrity of the commodities market.
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Noble Group, once a leading commodity trader, filed for bankruptcy in March 2018 after a dramatic downfall. The company was founded in 1986 as a Hong Kong-based scrap metal trader and grew to become a global commodity house with operations in over 20 countries. However, a series of accounting scandals, debt defaults, and credit rating downgrades led to the company's collapse.
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André & Cie was once a prominent ABCD commodity company that operated in the 20th century. The company was founded by André Hoffmann, a Swiss entrepreneur, in the early 1900s. André & Cie quickly became a major player in the international commodity trading market, dealing in coffee, cocoa, sugar, and other commodities.
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