EMEA News
Ex-OW Manager Arrested For Alleged Fraud
Friday December 19, 2014
A former OW Bunker manager has been arrested on suspicions of committing fraud in Italy, reports Reuters.
The Danish prosecutor's office said that the ex-employee, who was not named, has been arrested and will be handed to Italian authorities.
As Ship & Bunker reported Wednesday, the suspect is believed to have been part of a so called "ghost ship" scam selling €7 million ($8.6 million) worth of non-existent bunker fuel to the Italian Navy.
Five others are also suspected to be involved.
Former fuel supplier OW Bunker filed for bankruptcy in early November after announcing a loss of around $300 million, allegedly incurred from a mix of fraud and hedging losses.
