When Scams Make Headlines

By: Steven Bodzin | CJR

On September 15, 2011, executives of Arevenca, an Aruba-based oil company, and Avic Xac, a Chinese state aircraft company, signed the biggest oil deal in history in Madrid. The agreement promised $200 billion a year in trade over 10 years at a total value of $2 trillion. Francisco Javier González, the president of Arevenca, spoke at the signing about plans to supply not only fuel but also ports and railways.