Gerard Rigby, the former deputy head of trading at China Aviation Oil (CAO) Singapore has been charged in Singapore with insider trading of CAO shares. Rigby is accused of selling 16,800 CAO shares in August 2004 when he knew the company had lost at least $155m as a result of oil derivatives trading, according to a report in the Straits Times. The firm went on to lose $550m by the end of the year, the largest derivatives scandal since the 1994 Barings collapse.
Dubai Mercantile Exchange (DME) has hired two key members...