China Aviation Oil controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Banque de Commerce et de Placements litigation
BCP alleged that CAO made false representations in a US$19 million oil-cargo transaction involving ZenRock and sought damages and interest. CAO rejected the allegations and said the cargo had been shipped from Malacca and paid for through the applicable letter-of-credit bank.
2020
Hin Leong documentary-fraud allegations
Investigations into Hin Leong included allegations that forged cargo-transfer records and quality certificates were used in purported transactions involving CAO. The available material does not establish that CAO created the documents or was found liable for the alleged fraud.
2004
2004 derivatives-trading scandal
CAO incurred approximately US$550 million in losses after traders accumulated oil-derivatives positions without controls that adequately reflected the more aggressive strategy. Rising crude prices produced margin calls that the company could not meet. The episode led to restructuring, a Singapore Exchange investigation, executive arrests, and criminal proceedings.