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April 27, 2010

An Amazingly Large Fraud

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The CFO of a Singapore brewing company borrowed more than $100M in the name of his company to blow it all on a bad gambling habit. Now the banks that made the loans want to hold the brewing company liable. Who do you think should be liable? http://www.businessweek.com/news/2010-04-27/seb-hvb-appeal-ruling-on-brewer-s-gambling-monster-update1-.html

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