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.

Photo: Modelfoto/Colourbox

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.

All of the charged individuals have been granted court-awarded anonymity, but as ShippingWatch and Finans have previously described, the company concerned is located in western Denmark and is a supplier of bunkers. The company was a former competitor to now collapsed OW Bunker.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Related articles

Latest news

See all jobs