Venezuelan iron ore trader Commodities & Minerals Enterprise (CME) has lashed out at Greece’s Kyma Ship Management over allegations that it paid kickbacks to the trader’s own lawyer, who is accused of secretly acting as a broker in a bulker charter.

CME has filed federal lawsuits against Kyma affiliate Gretchen Shipping in New York and Florida alleging $14.6m in damages. It has also launched arbitration in New York over the allegations of fraud, according to legal documents.

Plus, if the various parties alleged to be involved do not agree to enter the arbitration, CME is preparing to file a third lawsuit to compel them to come before arbitrators over various issues, including claims under the Racketeer Influenced and Corrupt Organisations Act (RICO).

Michael