State Reserves Bureau copper scandal

The State Reserves Bureau copper scandal refers to a loss of approximately US$150 million as a result of trading LME Copper futures contracts at the London Metal Exchange (LME) by rogue trader Liu Qibing, who was the chief trader for the Import and Export Department of the State Regulation Centre for Supply Reserves (SRCSR), the trading agency for the State Reserve Bureau (SRB) of China in 2005. == Unauthorized trading == After obtaining a bachelor in economics, Liu Qibing started working for the SRCSR, and was sent to the LME for training in 1995.

Source: Wikipedia — State Reserves Bureau copper scandal (CC BY-SA 4.0)