Police raid Beluga offices

According to various reports, local police in Bremen, Germany raided the offices of Beluga Shipping on Wednesday, looking for evidence of possible fraud by the group’s former chief executive, Niels Stolberg.

It is not clear if the day long search yielded more documentation relevant to the investigation launched two weeks ago against Stolberg and other Beluga officials, according to local media.

Earlier this week Beluga Fleet Management Beteiligungs GmbH, Beluga Fleet Management GmbH & Co KG, Beluga Marine Service GmbH & Co KG, Beluga Offshore Crewing GmbH, Beluga Sea Academy GmbH all filed for insolvency.