A financially stretched shipowner stands accused of deliberately sinking his own ship to benefit from the insurance proceeds.
Ahmet Ali Agaoglu was found to have ordered the scuttling of the 27,209-dwt geared bulker, Atlantik Confidence (built 2006), in early 2013 in the Gulf of Aden, while carrying steel products.
The hull was insured for $22m but had a market value of $6.5m,
