Fraudsters ‘impersonated BP and Total’ to obtain finance, Singapore court rules
- Date: 21-Oct-2020
- Source: Global Trade Review
- Sector:Financial Markets
- Country:Middle East
Fraudsters ‘impersonated BP and Total’ to obtain finance, Singapore court rules
Fraudulent commodities traders impersonated oil majors BP and Total in order to obtain financing from the National Bank of Oman (NBO), according to a first-of-its-kind ruling in Singapore's High Court. Defendants were able to exploit an invoice discounting credit facility offered by the NBO's Dubai branch by establishing new companies with similar names and email ...
The post Fraudsters 'impersonated BP and Total' to obtain finance, Singapore court rules appeared first on Global Trade Review (GTR).Fraudulent commodities traders impersonated oil majors BP and Total in order to obtain financing from the National Bank of Oman (NBO), according to a first-of-its-kind ruling in Singapore's High Court. Defendants were able to exploit an invoice discounting credit facility offered by the NBO's Dubai branch by establishing new companies with similar names and email ...
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