CAO ACCUSES JARON OF FRAUD
AsiaInfo Services, March, 2005
AsiaInfo Services 03-24-2005 CAO Accuses JAron of Fraud BEIJING, Mar 24, 2005 (SinoCast via COMTEX) -- China Aviation Oil (Singapore) (CAO) has filed a lawsuit against Goldman Sachs' trading unit JAron on that the investment bank sold the complex and strange derivatives to it without clear explanation. China Aviation Oil alleged misstatement, negligence, violating legal liability or fraud by JAron, while restructuring its options portfolio during the period from January 2004 to June 2004. China Aviation Oil incurred losses of USD 550 million when it did oil derivatives business.
It is reported that CAO did options business with seven companies, and JAron is one of them. JAron is also one of the 25 main creditors of CAO. CAO owes JAron USD 7.6 million. CAO...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Presented by American Express