The former CEO of Dynamic Oil Trading, the Singapore-based subsidiary of O.W. Bunker, will be put on trial against alleged fraud at the Danish court on April 4.
Denmark’s general prosecutor in July 2017 charged Lars Moller over fraud of agent for more than DKK 800 million ($132.52 million).
He offered credit far beyond the capacity of O.W. Bunker’s financial system to Tankoil and Petrotec, both firms managed by Dennis Tan, partly resulting in the parent company’s fall in 7 November, 2014.
Arvid Andersen, the lawyer representing Moller, said O.W. Bunker management’s knowledge of credit being offered to Dynamic Oil will be a key factor in proving Moller’s innocence.
"Obviously, the more management knew, the less obvious it will be that my client has committed a misconduct," he told Danish paper Nordjyske.
It noted former top executives of O.W. Bunker, including ex finance directors Morten Skou and Kent Larsen, former chairman Niels Henrik Jensen, as well as former deputy chairman and partner of the Altor capital fund Soren Johansen, to be involved in the upcoming trial.
Photo credit: Dynamic Oil Trading
Published: 29 March, 2018
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