ShippingWatch

Secret million-dollar settlement in fraud case

Asian company withdrew charges of systematic fraud against Danish billion-dollar company – but only after receiving a generous compensation.

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A Danish oil company suspected of comprehensive delivery fraud has signed a secret million-dollar settlement with a major long-term Asian customer, several sources familiar with the proceedings tell ShippingWatch and Danish business media Finans.

Earlier this year, the customer reported the Danish supplier to the Danish Fraud Squad (SØIK) and filed a USD 7.5 million claim at the Danish Maritime and Commercial High Court.

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