Ferrexpo Plunges as Auditor, Directors Resign Amid Charity Probe

Ukrainian iron-ore producer Ferrexpo plunged the most in three years as its auditor and two directors resigned amid a money laundering investigation at a charity supported by the company. Ferrexpo announced on Friday morning that Deloitte had resigned without providing any details about the reason. Three days ago, the company disclosed a disagreement between the auditor and Ferrexpo’s board over the role of majority shareholder and CEO Kostyantin Zhevago at the charity, called Blooming Land.