Singapore police arrest CAO chief exec
(Agencies)
Updated: 2004-12-08 14:40

Singapore police said they have arrested Chen Jiulin, chief executive of embattled China Aviation Oil (CAO) Singapore Corp. Ltd., upon his arrival in Singapore early on Wednesday.

Chen, a 43-year-old native of rural China who was Singapore's fourth-best paid CEO last year, has been suspended from active duty since the Singapore-listed firm revealed US$550 million in speculative oil trading losses on Nov. 30.

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