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Lars Moller sentenced to 18 months jail for role in OW Bunker bankruptcy

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Lars Moller former chief of the Singapore OW Bunker subsidiary at the centre of the Danish company's spectacular collapse and bankruptcy in November 2014 has been sentenced to one and half years in jail.

A Danish regional court found Moller guilty of criminal breach of trust and sentenced him to one half years in jail and barred him from sitting on company boards, however, he was not found guilty of fraud having the court not intended to enrich himself or others.

Moller was in charge of Dynamic Oil Trading, a Singapore subsidiary, which ran up debts of $125m in credit sleeving scheme, which were only uncovered 48 hours before OW Bunker collapsed into bankruptcy.

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Moller will have to pay costs of the case, and will reportedly appeal the verdict.

He was the only member of OW Bunker's management charged in the wake one of Denmark's largest ever bankruptcies/ Last year Denmark’s state prosecutor said it had not found any legal grounds for the criminal prosecution of other members of management within the OW Bunker group.

Read More: Danish police, authorities investigating OW Bunker fraud at Dynamic Oil Trading

OW Bunker had revenues of $17bn in 2013 and claimed a 7% share of the global marine fuel supply market.