A TOP Japanese trader based in Singapore lost Mitsui Oil (Asia) US$81 million (S$124 million) in 2006 after his bets in petroleum trading went wrong.

Former star trader Noriyuki Yamazaki, 37, pleaded guilty yesterday to 10 charges over his role in concealing the trading losses. The losses he racked up as a result of deceit and misjudgment on the price of the petroleum product naphtha were so disastrous that they led to Mitsui closing the Singapore operations.