Researcher in the division Mitsubishi Petro-Diamond Singapore deprived the company of $ 320 million during an unauthorized crude oil trading.
As the publication of Tarantas.News, citing sources in the company, one of the employees of Mitsubishi for several months was engaged in the resale of petroleum products to China. The company noted that the loss was borne by “derivative trades disguised as hedging operations”. In addition, the unnamed employee had falsified internal data Singapore company.
In Mitsubishi noted that the main losses occurred in July. Recall that at the time oil prices began to fall. The employee involved in the fraud, was dismissed on 18 September, but the company is continuing an internal review.