Fraud in Singapore can cost Danish company USD 125 million

Photo: OW Bunker A/S

Photo: OW Bunker A/S

Danish maritime fuel company OW Bunker’s subsidiary, Dynamic Oil Traders, in Singapore has committed fraud for around USD 125 million.

The fraud was committed by senior employees in Dynamic Oil Traders and according to a press release from OW Bunker, the fraud has cost their current Head of Risk Management, Jane Dahl Christensen her job.

The press release also states that the extent of the fraud is not clear yet, but that their preliminary findings suggest a loss of around USD 125 million.

Measuring by revenue OW Bunker is the second largest company in Denmark.

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