EMEA News
Danish Bunker Supplier Found Guilty of $3.6 million Fraud
The Court of Kolding today has found a Danish bunker company guilty of a DKK24 million ($3.6 million) fraud against one of its customers.
A press release issued by the court stated the company has been fined DKK10 million ($1.5 million) as a result.
Two company executives also stood trial; one was handed a prison sentence of 3 years and 6 months, and stripped of the right to lead a company in Denmark or abroad, or deal in oil trading, for a period of five years.
The other executive was acquitted.
The name of the company, and the executives involved, are protected by court-ordered anonymity.
Danish media reports that lawyers acting on behalf of the accused expressed surprise at the verdict, saying that no evidence was presented that could have lead to the guilty verdict.
The decision was immediately appealed.
The case itself centred around 24 deliveries of fuel oil to two vessels belonging to one the defendant's Malaysian customers.
The court found that the accused systematically collaborated with people onboard the vessels to deliver less fuel than the customer had paid for.
