A Singapore court on Wednesday sentenced the former trading manager of Japan's Mitsui Oil to five years in jail for falsifying accounts. The trader, Noriyuki Yamazaki, racked up losses of US$81 million on naphtha trades in 2006 and falsified the accounts to prevent Mitsui from discovering the extent of his losses. Mitsui subsequently closed its Singapore oil and products trading office (IOD Feb.16'07,p6).
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