China Aviation Oil chief arrested

Chen left Singapore for China last week following the company’s announcement that it had lost $550 million in derivatives trading.

“He has been placed under arrest and is currently assisting Commercial Affairs Department in investigations into offences under the Securities and Futures Act,” Singapore police said in a statement.

No charges have been filed against Chen so far, but “the investigation is ongoing” and is expected to look into the possibility of insider trading, a police spokespe