Rhodium is the most underestimated precious metal. It is rare and it is hard to replicate or substitute it since it has unique properties. The mineral is part of a group of metals widely known as PGE group of elements (Platinum Group of Elements). The other precious metals belonging to this category include platinum, iridium, palladium, ruthenium, and osmium.
However, it is the scarcest metal in the PGE group. In the past few years, Rhodium was widely regarded as the world’s most valued metal with its price per ounce hitting $10,000 in 2008. The metal is 120 times scarcer than gold and 200 times rarer than silver. The primary use of the metal in the society is in catalytic motor converters since it is very resistant to corrosion. It also plays a significant role in Solar Energy storage.
The World Rhodium Market
Currently, there are no any mineral deposits globally … Read More
Russian-born entrepreneur Felix Sater is breathing a sigh of relief after a tax fraud case against him was dismissed in Manhattan court in September 2017. Sater is a former business acquaintance of President Donald Trump, and also a cofounder of Bayrock Group LLC, a real estate conglomerate out of New York City.
The case against Sater was a qui tam (whistleblower) lawsuit filed on the state’s behalf that gives the attorney general’s office an option to intervene. The State has the right to intervene, but is not required to do so. Qui tam lawsuits are brought under the False Claims Act, and reward whistleblowers in cases where the government successfully recovers funds that were lost due to fraud.
Attorney Fred Oberlander has been identified as the whistleblower in this case. Not too long ago, Oberlander represented Sater’s former business partner Jody Kriss, in a suit against Tevfik Arif Bayrock.… Read More