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‘Rogue’ Oil Trader Loses $320 Million In Massive Trading Bust

Credit: OilPrice.com- Published 3 weeks ago
A Singapore-based subsidiary of Japanese trading giant Mitsubishi recently booked a $320 million loss after several unauthorized derivatives trades went sour, the company revealed in a Friday press release. The bank blamed the losses on a 'rogue trader' who allegedly manipulated the subsidiary's risk-management system, allowing...
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