Scandal in Denmark - OW Bunker

It will be interesting to follow the outcome of this investigation.  

From Bloomberg News

OW Bunker, which provides fuel to the marine industry, said shortly before midnight local time it had lost $275 million through a combination of fraud committed by senior executives at its Singapore office and poor risk management. Its shares have been suspended since yesterday and the company says its equity has been wiped out. Just eight months ago, investors drove OW Bunker’s shares up 21 percent in their first day of trading, following an initial public offering that valued it at almost $1 billion.OW Bunker, which provides fuel to the marine industry, said shortly before midnight local time it had lost $275 million through a combination of fraud committed by senior executives at its Singapore office and poor risk management. Its shares have been suspended since yesterday and the company says its equity has been wiped out. Just eight months ago, investors drove OW Bunker’s shares up 21 percent in their first day of trading, following an initial public offering that valued it at almost $1 billion.