FORMER Polar Air Cargo chief operating officer Lars Winkelbauer sentenced four years in prison for defrauding the airline of more than US$32 million, reports London's Air Cargo News.
Winkelbauer previously admitted guilt to conspiracy to commit wire fraud and money laundering, said the US Attorney's Office, Southern District of New York in a press release.
US Attorney Damian Williams said: 'Lars Winkelbauer abused his high-level position at Polar for over a decade, extracting millions of dollars in kickbacks for himself and causing tens of millions of dollars of harm to the company.'
In April last year, 10 were charged with defrauding Polar Air Cargo during a period that is estimated to have spanned from 2009 through to 2021.
The charges were based on allegations that these 10 defendants were involved in fraud that resulted in the airline, 51 per cent owned by Atlas Air Worldwide and 49 per cent owned by DHL Express, losing an estimated $52 million and which impacted nearly all operations.
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Winkelbauer previously admitted guilt to conspiracy to commit wire fraud and money laundering, said the US Attorney's Office, Southern District of New York in a press release.
US Attorney Damian Williams said: 'Lars Winkelbauer abused his high-level position at Polar for over a decade, extracting millions of dollars in kickbacks for himself and causing tens of millions of dollars of harm to the company.'
In April last year, 10 were charged with defrauding Polar Air Cargo during a period that is estimated to have spanned from 2009 through to 2021.
The charges were based on allegations that these 10 defendants were involved in fraud that resulted in the airline, 51 per cent owned by Atlas Air Worldwide and 49 per cent owned by DHL Express, losing an estimated $52 million and which impacted nearly all operations.
SeaNews Turkey
