OW Bunker CEO's testimony in 2016: no knowledge of out-of-control Singapore credits

In a comprehensive questioning by the Danish financial police in 2016, OW Bunker's now-deceased CEO Jim Pedersen denied any knowledge of the out-of-control credits at Dynamic Oil Trading, revealed a court session last Friday in the ongoing criminal trial.

Photo: Ritzau Scanpix/Kasper Palsnov.


OW Bunker CEO Jim Pedersen, who passed away in March last year, has in a comprehensive testimony given to the the Danish Attorney General's Office for fraud and financial crimes in 2016 denied all knowledge of the out-of-control credits at Singapore subsidiary Dynamic Oil Trading (DOT), which along with risk-fraught speculation in oil prices resulted in the collapse of the Danish bunker company.

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