Rogue PVM broker costs firm £6.1 million

PVM has a long history in the Brent market and is one of the biggest brokers, with daily turnover averaging more than 100 million barrels of over-the-counter (OTC) and oil futures, according to its website. http://www.pvmoil.co.uk/

The group employs some 160 people worldwide, including 65 OTC brokers, 16 futures brokers, and 15 consultants.

(Additional reporting by Alex Lawler, Ikuko Kao and Christopher Johnson in London; Jennifer Tan, Yaw Yan Chong, Maryelle Demongeot and Felicia Loo in Singapore; editing by James Jukwey and Keiron Henderson)