The world's largest ship fuel supplier OW Bunker said it would file for bankruptcy as soon as possible to the probate court in Aalborg in the northern part of Denmark.
OW Bunker said on Thursday it has discovered fraud by senior employees in its Singapore-based subsidiary.
"As a result of the internal investigation, it has been decided to report two key employees in the Singapore-based subsidiary Dynamic Oil Trading," the company said in a statement.
(Reporting by Ole Mikkelsen; editing by Jane Baird)