The general manager of jet-fuel supplier China Aviation Oil Holding has been forced to resign over his involvement in the 2004 trading scandal that almost brought down the company's Singapore-listed subsidiary, according
to the Wall Street Journal. Jia Changbin, who was also a director at China Aviation Oil (Singapore), was replaced by Sun Li this week. Last year, a Singapore court fined Jia for insider trading and failing to disclose the company's US$550 million in
derivatives-trading losses to the Singapore Exchange. Chen Jiulin, who served as chief executive of the Singapore unit, was sentenced to 51 months in jail and fined
for his role in concealing losses.
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