The Mars cocoa fraud and why operational risk — not price risk — can sink companies. Price risk often grabs the headlines when commodity prices go through periods of high volatility. But it's operational risk that often causes losses or worst-case, bankruptcy, at companies. Think Barings Bank - the 233 year old financial institution that was sunk by poor derivative dealing controls. The sentencing of the former head of Mars cocoa price risk last year for fraud is another star
