Former Endofa partner acquitted by High Court in case concerning oil trades

Bunker company Endofa loses a case against former partner Babak Shahbaz in Denmark's Eastern High Court, where Endofa had filed for compensation totaling DKK 20 million. The acquittal of Shahbaz reverses a ruling issued by the country's Maritime and Commercial Court.

Photo: Arkivfoto / Colourbox

Denmark's Eastern High Court acquits former Endofa partner Babak Shahbaz of charges related to fraud in a series of lucrative oil trades in Angola, shows a transcript of the verdict which ShippingWatch has read.

Endofa had filed for a DKK 20 million (USD 3.2 million) compensation claim from Shahbaz, claiming that he allegedly defrauded his former partners by secretly inserting his own companies as a costly middle link in a series of oil trades in Angola in 2013.

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