Nyrstar charged in forgery and embezzlement case
The Brussels-based company Nyrstar has been formally charged with document falsification, manipulated annual accounts and embezzlement of company assets. The case is linked to the controversial sale of its zinc operations in 2019.
Nyrstar charged in forgery and embezzlement case
The company Nyrstar, which is listed on the Brussels stock exchange, has received a formal charge for several financial offences. It is accused in particular of having produced forged documents, of having used falsified annual accounts and of having misappropriated assets belonging to the company. The company itself revealed this information in a statement, whilst emphasising that it had not yet been able to review the investigation file.
This legal case has its roots in an operation dating from 2019. At that time, the zinc division of the former Belgian firm had been sold to Singaporean trader Trafigura, an international commodities giant. Minority shareholders are contesting the regularity of this transaction. They argue that Trafigura took advantage of its status as principal shareholder to weaken the zinc company before acquiring it at a derisory value.
The investigation has already given rise to searches in the course of 2024. Since the sale of its industrial operations, Nyrstar is no longer anything more than a stock market structure without real operational substance.
Source: La Libre
Source: La Libre