Legendary and notorious trader Marc Rich dies at 78

Jun 26, 2013 | 11:49 AM | Mark Burton

Tags  Marc Rich, Marc Rich & Co., Philipp Brothers, CWT Group, Daniel Ammann, Glencore, Mark Burton

LONDON — Marc Rich, the commodities trader who founded Glencore International Plc and is credited with inventing the spot market for oil, has died after suffering a stroke in Lucerne, Switzerland, a spokesperson said June 26. He was 78.

Rich, who started his career trading alumina at Philipp Brothers Inc. before founding Marc Rich & Co. AG with colleague Pincus Green, came to the attention of the wider world in 1983, when he was indicted in the United States for alleged wire fraud, tax evasion and breaking a trade embargo with Iran. He was later placed on the FBI’s "most wanted" list,....

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