CAO execs face charges

Singapore's prosecutors have charged five executives of China Aviation Oil (Singapore) Corp, including its embattled CEO Chen Jiulin, with forgery, insider trading and issuing false financial statements in connection with a derivatives-trading scandal that cost the company more than US$500m, nearly bankrupting it. Others charged include Jia Changbin, CAO Singapore's chairman and the president of its Beijing-based parent, China Aviation Oil Holding Co, finance head Peter Lim and the company's directors Li Yongji and Gu Yanfei.