BITTERSWEET

Cocoa: Ivorian trader Loïc Folloroux’s lost millions

By Julien Clémençot

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Posted on March 20, 2023 12:21

© Farmers break cocoa pods at a cocoa farm in Soubre, Côte d’Ivoire January 6, 2021. REUTERS/Luc Gnago — Farmers break cocoa pods at a cocoa farm in Soubre, Côte d’Ivoire January 6, 2021. REUTERS/Luc Gnago

The founder of Africa Sourcing has accused certain members of the Federation of Cocoa Commerce of ganging up on him, saying his company was defrauded of more than $5.3m.

Since 2018, Africa Sourcing founder Loïc Folloroux has been trying to recover the millions he entrusted to Franco-British trader Matthew Stolz, founder of the company Rockwinds, to place on the cocoa futures market.

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