CAO executive sentenced
The former finance chief of China Aviation Oil, Peter Lim, has been sentenced to two years in prison for his part in the late 2004 scandal in which the company tried to hide trading losses of $550 million. China's monopoly jet fuel trader accumulated the losses in oil derivatives trading. The company was forced to seek court protection from creditors.
Lim was charged with releasing financial statements that he knew to be false and of conspiring with Chen Jiulin, the former CAO ceo, to hide the
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