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

Both the North Jutland Police and the Public Prosecutor for Serious Economic and International Crime in Denmark are now investigating the fraud according to Danish media.

Danish newspaper Borsen reported that OW Bunker chairman Niels Henrik Jensen as saying that Lars Moller ceo of Dynamic was involved in the fraud. Danish ShippingWatch reported that a manager from Dynamic, having flown to Denmark, had tearfully confessed to the fraud in front of his bosses. Moller was not, however, named.

“We don’t know why he came to us and told us about the matters, and we cannot go into details about the events because police investigations are ongoing,” Jensen was quoted as saying.

It remains unclear if the fraud, which reportedly took place over a six month period, was the result of attempting to cover up losses or a simple case of embezzlement.

One of the world’s largest bunker companies faces insolvency and has placed its two main operating subsidiaries into in-court administration.