Eramet: Former Treasurer and Accomplices Convicted in €45 Million Fraud Case
The former treasurer of mining group Eramet has been convicted of a €45 million fraud uncovered in 2021. He has been sentenced to 30 months in prison, with 8 months under electronic surveillance, and fined.
The events date back to 2018, when the former treasurer invested €50 million in a structured product linked to Rallye's debt. Following Rallye's safeguard procedure in 2019, over 87% of this investment was lost. To hide these losses, the individual falsified internal documents, statements, and communications with BNP Paribas, and simulated false reinvestments over several years.
Motivation Behind the Crime
Free · Every morning
Technical market signals, before the opening bell.
Bullish and bearish momentum, analyst changes, stocks to watch — automatically computed from Euronext data.
✓ Before 9 AM every morning✓ Euronext data✓ AI-powered analysis
Almost there! Check your inbox.
A confirmation email has been sent. Click the link to confirm your subscription.
An error occurred.
Indicative data. No investment advice. Unsubscribe at any time.
The primary motive was the receipt of hidden commissions, estimated at nearly €2.8 million. These funds were laundered through schemes involving real estate, gold, and cryptocurrencies. Several accomplices were also convicted, including a close associate and an intermediary involved in passive corruption operations.
Internal Control Failures Exposed
The case has highlighted internal control failures at Eramet. According to available information, these failures have since been addressed.
SectorMétaux et matières premières›Métaux non ferreux
Context
Period
Period: 3T 2025
Guidance from the release
Malgré un contexte de marché difficile, Eramet a maintenu un niveau d’activité solide, grâce à l’engagement et à l’agilité de ses équipes.
Conjoncture macroéconomique incertaine pesant sur la demande et les prix; marchés du manganèse, nickel et lithium globalement en excédent au T3 2025 avec pression sur les prix; perturbations logistiques au Gabon et incertitudes réglementaires en Indonésie.
Risks mentioned
Difficultés logistiques sur le réseau ferroviaire gabonais (Transgabonais) affectant le transport du minerai
Pression des prix et faible demande macroéconomique
Risque de non-respect du covenant de gearing au 31/12/2025 (waiver demandé)
Enquête des autorités indonésiennes sur une partie de la concession PT WBN
Opportunities identified
Montée en cadence robuste de la production de carbonate de lithium (usine Centenario) — volumes 2 080 t-LCE au T3 2025, objectif 4 - 7 kt-LCE en 2025
Rebond des volumes et chiffre d’affaires de PT WBN (forte progression des ventes externes de minerai de nickel)
Programme d’amélioration de la performance opérationnelle et financière (cash boost, optimisation capex, réduction coûts)
Ajustement du plan de capex pour préserver trésorerie (capex 2025 entre 400 M€ et 425 M€)
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
