Singapore’s geographic location makes it a hot spot for physical oil trading. Hin Leong Trading was just named in a major $3 billion oil trading scandal The revelation of the extent of corporate malfeasance has rocked Singapore’s bustling the trading community. Back in April, Reuters reported that fabled Singapore oil trading firm, Hin Leong Trading (Pte) Ltd, had been caught with its hand in the cookie jar: One of the biggest names in the world of physical oil trading had systematically cooked its books in a bid to hide US$800 million in futures losses over the years. But now the full extent of the financial impropriety has come to light after it has emerged that the firm had for years forged its records to hide massive holes in its traders’ books amounting to billions of dollars. The Wall Street Journal has reported that the said firm used “routine and […]