Rio Tinto Group’s former chief financial officer and the Securities and Exchange Commission agreed to close litigation alleging the executive used false financial records to overstate the value of coal assets in Mozambique.
Guy Robert Elliott and the commission requested the US District Court for the Southern District of New York dismiss the case with prejudice Friday. The SEC charged Elliott and the mining company’s chief executive officer Thomas Albanese with securities fraud in 2017, claiming the executives concealed the $3.7 billion mining project’s deterioration in value. The Mozambique mine was acquired by ...