World News
"Fat Leonard" to Change Plea in U.S. Navy Bribery Case
A Malaysian businessman said to be at the centre of a U.S. Navy bribery scandal is said to be set to change his plea to guilty on Thursday, Reuters reports.
Leonard Glenn Francis, also referred to as "Fat Leonard," was arrested in 2013 but has pleaded not guilty since that time.
According to the report, however, he is scheduled for a change of plea hearing at the U.S. District Court in San Diego.
Francis is accused of having bribed U.S. Navy officials for information which allowed him to overcharge the U.S. Navy more than $20 million through his company Glenn Defense Marine Asia (GDMA).
GDMA is said to have held more than $200 million worth of U.S. Navy contracts to supply ships, fuel, and other services to the U.S. Navy's Seventh Fleet in Pacific ports, including Singapore.
A guilty plea from Francis would make him the sixth person involved in the affair to plead guilty to bribery charges which, amongst others, has seen charges brought against two high-level U.S. Navy Commanders.
U.S. Navy Commander Michael Vannek Khem Misiewicz maintains his innocence, but Commander Jose Luis Sanchez recently pleaded guilty to accepting $120,000 worth of bribes for providing confidential information.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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