SHARE
COPY LINK

ITALY

Bankrupt Danish firm exec wanted in Italy

A high-ranking employee of OW Bunker is wanted for fraud by Italian authorities and may also be involved in a case that implicates members of the Italian navy.

Bankrupt Danish firm exec wanted in Italy
Fraud sunk OW Bunker in November and the fallout continues. Photo: Kasper Palsnov/Scanpix
The Danish fraud squad has arrested a former executive of bankrupt ship fuel supplier OW Bunker who is under suspicion of fraud from Italian authorities. 
 
“The arrestee is suspected by the Italian authorities of having participated in fraud and embezzlement. From the Danish side, we are naturally also very aware of the role the individual could have had in connection to the quite extensive set of cases that we are currently investigating along with the liquidators of the OW Bunker estate,” Morten Niels Jakobsen, the public prosecutor for economic and international criminality (Særlig Økonomisk og International Kriminalitet – SØIK), said in a press release. 
 
According to SØIK, the individual will be extradited to Italy. Italian media has reported that another high-ranking OW Bunker executive has been charged with fraud for a bogus sale of over 50 million kroner worth of oil to the Italian navy.
 
According to the reports, three Italian navy officers signed off on the purchase despite the fact that the ship that was said to have delivered the massive oil shipment has been sitting at the bottom of the Atlantic Ocean for over a year. 
 
 
Danish broadcaster DR reported that it was currently unclear if both cases involve the same OW Bunker official. 
 
OW Bunker filed for bankruptcy in November after saying it had discovered a $125 million (100 million euros) fraud at its subsidiary in Singapore.
 
The company was valued at 5.33 billion kroner (716 million euros, $890 million) in May in what has been Denmark's second biggest IPO in the year to date.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

ITALY

Italy’s Renzi wants ex-ECB boss Draghi to become prime minister: report

Ex-PM Matteo Renzi would like to see former European Central Bank chief Mario Draghi become prime minister of Italy, a party source told Reuters on Sunday.

Italy's Renzi wants ex-ECB boss Draghi to become prime minister: report
Matteo Renzi. Image: Andreas Solaro/ POOL / AFP

“I would say that is one of our proposals,” confirmed the source, who declined to be named.

The Italian government collapsed last week when PM Giuseppe Conte resigned. The former coalition allies are currently trying to come to an agreement and sort out their differences.

The centre-left government had been in turmoil ever since former premier Matteo Renzi withdrew his Italia Viva party earlier this month, a move that forced Conte to step down this week.

During the past year, Renzi frequently criticised Conte’s management of the pandemic and economic crisis.

Italy’s La Stampa newspaper also reported on Sunday that President Sergio Mattarella was considering Draghi for the prime ministerial role. However, Mattarella’s office promptly denied this, saying there had been no contact between them.

So far, there has been no comment from Draghi, who hasn't been seen much in the public eye since 2019.


Italy's president, Sergio Mattarella, gave ruling parties more time on Friday to form a new government, after the resignation of Prime Minister Giuseppe Conte. 

Coalition parties Italia Viva, the centre-left Democratic Party (PD) and anti-establishment 5-Star Movement must come to an agreement to allow the government to heal. 

Renzi, a former prime minister himself, has pubilcly stated that he does not want to talk about who should lead the next government at this stage, reasoning that the parties need to agree on a way forward first.

“Any effort today to fuel a discussion about Draghi is offensive to Draghi and above all to the president of the republic,” Renzi said in an interview published on Sunday with Corriere della Sera.

A senior Italia Viva lawmaker also told Reuters that “If the president gives a mandate to Draghi, we would certainly support this”. 

Renzi, whose party is not even registering three percent support in opinion polls, quit the coalition over Conte’s handling of the COVID-19 pandemic and his plans for spending more than 200 billion euros from a European Union fund to help Italy’s damaged economy.

READ ALSO: Why do Italy's governments collapse so often?

SHOW COMMENTS