Swiss Man Accuses Hammer of Fraud
A Swiss man filed a lawsuit Thursday against Occidental Petroleum Chairman Armand Hammer, accusing the oil magnate of intentionally defrauding him out of royalties from oil production in Libya. In the lawsuit filed in U.S. District Court, Hans-Albert Kunz seeks more than $550,000 in damages he says he lost after Occidental sold a quarter of its Libyan oil interests in 1985 to OMV of Austria.
A spokesman for Occidental said he had not seen the suit and had no immediate comment.
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