Directors Poh Fu Tek and Koh Seng Lee, and one former bunker manager Lee Kok Leong of Singapore-based Vermont UM Bunkering was charged for cheating and criminal breach of trust offences under the Penal Code at a Singapore court on Thursday.
‘Through these alleged fraudulent transactions, Vermont Bunkering had dishonestly induced its customers to make excess payments totalling over US$8 million,’ said Singapore’s Corrupt Practices Investigation Bureau (CPIB).
According to CPIB, the Penal Code offences the trio were charged are as follows:
Vermont Bunkering and Poh will be further charged with 18 counts of abetment by engaging in a conspiracy to disguise property representing benefits from criminal conduct. This was carried out by falsely purporting that various quantities of fuel oil had been sold to Vermont Bunkering – an offence under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act [CDSA].
‘This is the first time a company (i.e. legal person) will be prosecuted for offences under the CDSA. An individual who commits an offence under section 47 of the CDSA shall be liable on conviction to a fine not exceeding $500,000 or to imprisonment for a term not exceeding 10 years or to both; if the person is not an individual, a higher fine not exceeding $1 million may be imposed,’ commented CPIB.
On 10 October, former cargo officers of Vermont Bunkering Lee Peck Yong and Loh Cheok San, together with Lee Kok Leong, were each charged with one count of criminal conspiracy to commit cheating by deceiving Vermont Bunkering into paying them even larger commissions than the sum being used to facilitate the illegal marine fuel oil buy-back transactions.
‘As a result, Vermont Bunkering was dishonestly induced to pay a larger sum for the marine fuel,’ CPIB adds.
‘CPIB had worked with the Maritime and Port Authority of Singapore (MPA) on this case and received valuable assistance from them.
‘Singapore adopts a zero tolerance approach towards corruption and criminal activities. The CPIB takes a serious view of any corrupt and criminal practices, and will not hesitate to take action against any party involved in such acts.’
MPA on 28 April, 2016 revoked the bunker supplier and bunker craft operator licences of Vermont Bunkering due to discrepancies and wrongful declarations in the records kept on board their bunker tankers.
Photo credit: Freeimages/foxumon
Total bunker sales at Panama was 381,570 metric tonnes (mt) in September, compared to sales of 388,027 mt during the similar period in 2021.
Ulrich Hyldedahl Rasmussen will be based in Singapore and will head the Credit Team globally.
‘This step is a tangible form of synergy between Pertamina Patra Niaga and Krakatau Bandar Samudera in maximizing the potential of ship bunkering in the Sunda Strait,’ it states.
A foreign vessel was involved in an alleged unauthorised STS incident with bunker tanker Pearl Melody on 5 June, Director and General Manager of Consort Bunkers tells Manifold Times.
‘The defendant […] illegally manipulated the fuel oil market by creating artificial prices that undermined the legitimate forces of supply and demand,’ said DoJ.
Plans to build facility capable of storing refined petroleum product requirements of the entire country for a period of three months, says Chairman.
Buyers can nominate deliveries on platform and plan operations together with suppliers following ‘one single truth’ concept with all players aware of what has been agreed when and by whom, says DNV spokesman.
Rotterdam’s intention to mandate the usage of MFMs goes down well with licensed bunker supplier VT Group; MFM providers supportive of move but stressed continuous monitoring is needed for optimum performance.
Cost of alternative bunker fuels, bunker operations and technology advancement are some considerations to be examined by the maritime industry, says Neo, director of SDE International Pte Ltd.
Kim Hyung Joon and Han Donghoon were planning to join the Singapore entities of Hartree Group - either Hartree Partners Singapore Pte Ltd or Hartree Marine Fuels - in October, discovered management.
‘When you think of Helmsman on the next occasion, think of us as lawyers with expertise in various fields. Come to us before a problem develops. It’s the process that matters,’ says Tang Chong Jun, Executive Director.
Bernard Chew was a former shareholder of MB Marine and was an authorised signatory of the company’s cheques at the material time, according to court documents obtained by Manifold Times.
