World News
Second Guilty Plea in GDMA Scandal
The general manager of Glenn Defense Marine Asia Ltd. (GDMA) has pleaded guilty to conspiring to defraud the U.S. government, U.S. military newspaper the Stars and Stripes reports.
Alex Wisidagama could be sentenced to as much as 10 years in prison for overbilling the U.S. Navy as part of a widespread conspiracy.
Wisidagama is the cousin of GDMA owner Leonard Glenn Francis, who was also arrested last year.
The court complaint against Wisidagama contends that the company submitted false competitive bids for services about 177 times at Phuket, Thailand in addition to other false bids elsewhere in the country, and that Wisidagama helped defraud the Navy of millions of dollars.
"Certain ports are more lucrative than others," the complaint stated.
"GDMA employees referred to these ports as 'Pearl Ports.'"
Senior Navy criminal investigator John Beliveau II pleaded guilty to bribery charges in connection with the scandal in December.
The misdeeds by GDMA and Navy personnel are estimated to have caused more than $20 million in financial damage.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 628.00 | 1.00 | 736.50 | 0.50 |
| Rotterdam | 569.00 | 10.00 | 730.50 | 23.00 |
| Houston | 591.00 | 3.50 | 770.50 | 6.00 |
| Fujairah | 626.50 | 4.50 | 886.50 | 5.00 |
| Global 20 Ports Average | 644.00 | 2.00 | 825.50 | 0.00 |
| Global 4 Ports Average | 603.50 | 0.50 | 781.00 | 3.00 |
| Global Average Bunker Price | 700.00 | 0.00 | 883.50 | 0.50 |
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