I have long thought that a conspiracy was behind the fuel "bet" fiascos.
Plural because the first disaster was around 2009 when HKD7.6bn was written off the balance sheet. At that time the CFO RA took the wrap and was the only one who walked the plank.
To double down a mere 5 years later is extraordinary and led me to believe the conspiracy theory. After much digging around, Occam's Razor has led me to believe it was plain stupidity and gullibility. The board was simply led to the slaughter by a bunch of smarmy sweet talking professionals who saw a fatted calf sitting on their doorstep.
Who is walking the plank this time? Noone. This tells me it was a collective act of extreme stupidity by the whole board.