Case Study
Asset Misappropration - Eastern Europe
Investigation of a US$12m marine cargo insurance claim for the loss of petroleum products from an oil terminal.
The investigation involved the tracing and interview of witnesses and suspects in several countries and the examination of the whole process of the cargo’s delivery, storage and onward transfer from the terminal.
Having established that the oil had been delivered to the specification and in the quantity claimed, it was found that it had been misappropriated by the claimant's in-country business partner using forged documents to facilitate its unauthorised release. There was also good circumstantial evidence that port staff and customs officials had colluded with the perpetrators.
Armed with the evidence found, lawyers acting for the claimant and the insurance company were able to instigate proceedings against the terminal operators and the claimant’s local business partner.