CEO of now bankrupt OW Bunker’s subsidiary in Singapore claims to be innocent of fraud. Earlier Niels Henrik Jensen, chairman of former Danish marine oil giant OW Bunker, claimed that Lars Moller the CEO at their Singapore subsidiary Dynamic Oil broke down crying at the OW bunker’s headquarter admitting to half a year of systematic fraud for up to DKK 700 million.
Through his lawyer fraud suspected Lars Moller, CEO of Dynamic Oil, claims his innocence. According to Danish newspaper Politiken OW Bunker has earlier stated that that they intent to report Lars Moller to the police, up till now it has not yet happened.
According to OW Bunker the fraud consisted of Lars Moller singlehandedly giving giant credits to customers without notifying the OW Bunker management.