Alam Maritim CEO charged: $7.8m fraud in vessel charters

CLAVE 1 / 4Alam Maritim Resources CEO Azmi Ahmad charged with two counts of fraud under Malaysia’s Penal Code.

CLAVE 2 / 4Alleged discrepancies involve charter rates totalling $7.8m between work orders and BIMCO contracts.

CLAVE 3 / 4First charge relates to a RM80,500 ($19,800) daily rate reduced to RM70,000 ($17,200).

CLAVE 4 / 4Azmi pleaded not guilty and was granted RM300,000 ($74,000) bail.

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