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Translator causes company collapse
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Beijing, China (Xinhua): China Aviation Oil (Singapore) Co. Ltd. announced late last month it had lost over US$550 million in financial derivatives trading, caused by unauthorized speculation on the financial markets by its chief executive, Chen Jiulin, whose only formal education was as a translator.
He spent five years at Beijing University studying Vietnamese in the Department of Oriental Languages, and worked as a translator in many important negotiations.
For more information, please visit:
www.news.xinhuanet.com/english/2004-12/13/content_2328221.htm
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