Corp-Ethics.com - Report: Ex-China Aviation officer jailed

Company	China Aviation Oil [Company Info]
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Date	Issue	Title
21st Feb 2006	Fraud Investigation	Ex-China Aviation officer jailed

Report

Peter Lim, ex-finance chief of China Aviation Oil (CAO), has been given two years in prison and fined over one of Singapore's biggest business scandals.

CAO, China's monopoly jet fuel trader, accumulated $550m (£317m) in losses in oil derivatives trading.

Lim was imprisoned for cheating, an offence under the Penal Code, and fined 150,000 Singapore dollar($92,000) for an offence under the Securities Act.

Four other CAO officials, including CEO Chen Jiulin, are facing charges.

CAO's losses were discovered in November 2004 when the company was forced to seek court protection from creditors.

Other Reports on China Aviation Oil
Date	Issue	Company	Report
21st Mar 2006	Fraud Investigation	China Aviation Oil	Jail term for China Aviation boss
15th Mar 2006	Fraud Investigation	China Aviation Oil	China Aviation boss pleads guilty
1st Mar 2006	Fraud Investigation	China Aviation Oil	China Aviation execs plead guilty
19th Aug 2005	Fraud Investigation	China Aviation Oil	China Aviation owner fined $4.8m
9th Jun 2005	Fraud Investigation	China Aviation Oil	Forgery charge for jet fuel boss

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