EMEA News
No Bunker Holding Companies Involved in Danish Bunker Fraud Case: Østergaard-Nielsen
Following news yesterday that a Danish bunker company has been found guilty of a DKK24 million ($3.6 million) fraud against one of its customers, United Shipping & Trading Company (USTC) CEO Torben Østergaard-Nielsen today has distanced his company from the case.
The name of the company is protected by court-ordered anonymity, but Østergaard-Nielsen stated today that no USTC or Bunker Holding entities were involved.
"With the ongoing media coverage of the court case against a company in our industry, it is imperative for me to make it clear to the outside world that none of the companies under USTC or our bunker group Bunker Holding either in Denmark or abroad are involved in any fraud case," Østergaard-Nielsen said in a statement released Friday.
"Likewise, I would also like to point out that no person associated to USTC, Bunker Holding or any of our subsidiaries either in Denmark or abroad is under indictment in any kind of fraud case."
As Ship & Bunker reported yesterday, the Danish bunker company at the centre of the case was fined DKK10 million ($1.5 million) and a company executive was handed a prison sentence of 3 years and 6 months.
