Orlen Trading Switzerland Faces $230 Million Loss in Failed Oil Deal

Orlen Trading Switzerland (OTS) suffered a massive financial loss after transferring $230 million to Hannon International for a Venezuelan oil shipment that never arrived. The deal, which lacked collateral, led to a 1.6 billion zloty write-down and legal charges against three former executives. Reports indicate that funds were partially diverted into Tether (USDT) to bypass U.S. sanctions on the Venezuelan state oil company PDVSA.