01/05/2020at 13:19

Owner family behind major scrap buyer accused of fraud totaling more than USD 89 million

A shipping family in Dubai is accused of fraud totaling more than USD 89 million. The case concerns the sale of 13 ships to be scrapped in Pakistan and Bangladesh. The family denies all charges in comments to ShippingWatch and fears that its reputation will be "tarnished" by the case.

Archival photo from 2018 from coastal region Alang in India, where many ships are scrapped. | Photo: Amit Dave/Reuters/Ritzau Scanpix

by CHRISTIAN CARLSEN

The owner family behind one of the world's largest cash buyers of end-of-life commercial vessels, Dubai-based Dubai Trading Agency, is accused of fraud totaling more than USD 89 million.

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