Fraud-charged bunker supplier paid huge sums to tax shelter
Huge transfers to a tax shelter in Saint Vincent and the Grenadines may be the Danish Fraud Squad's best card in the fraud case against a Danish bunker supplier. The Danish company maintains that the money constitutes payments for oil deliveries, but the authorities are not buying it.
BY JESPER HØBERG, FINANS & OLE ANDERSEN, SHIPPINGWATCH
A Danish oil company with a billion dollar revenue has transferred significant sums to an unknown tax shelter in Saint Vincent and the Grenadines. These transfers are pivotal in the criminal case which the Danish Attorney General's office for fraud and economic crimes – generally known as the Danish Fraud Squad (SØIK) – has started against the oil company and two unnamed executives at a court in Kolding, Denmark.
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