China prosecutors charge Trafigura, staff member in oil probe

Beijing

CHINESE prosecutors have charged Trafigura's Singapore division and a Beijing-based staff member for allegedly fabricating petrol deals with a Chinese oil trading company following a three-year probe, according to a letter of indictment reviewed by Reuters.

Prosecutors in Langfang, in northern China's Hebei province, filed the charges on August 4 against Trafigura (Singapore) and Tian Meng, its Beijing-based oil marketer, the official document issued by prosecutors shows. The document charges the Swiss firm and Tian with fraudulently obtaining bank credit through fabricated oil deals.