The petroleum industry has been rocked by fraudsters, with the Western Regional Police Command hunting for an employee of a petroleum logistical company in Takoradi who allegedly swindled two bulk fuel stations in the metropolis of petroleum products amounting to over GH¢525,000.The two petroleum dealers are said to have run into serious debt owing to the value of the products and the interest on the amount involved. The first station was allegedly swindled of GH¢400,000, while the second was duped to the tune of GH¢125,000.The suspect, Nicholas Adjei, an employee of Petroleum Management Company Limited in Takoradi, is said to have used the letterhead of his employers to write letters to the two bulk fuel dealers that his company had a contract from offshore and mining companies in Tarkwa to supply them with diesel and petrol.The fuel dealers said when they ran through the contract requests; they got convinced and supplied the products without any suspicion.One of the victims said the suspect took him to an office located on the premises of Bakar Hughs which houses many foreign oil companies and he got convinced that it was a genuine deal.He said little did he know that the products meant for the mines had rather allegedly found their way to the Nasona Fuel Station at Apremdo.When the Daily Graphic contacted the Accra office of the company for reaction, it indicated that the act was fraudulent and that the company was not aware of any such deal between the dealers and its employee.Currently, the two fuel stations (names withheld) are in serious debt and on the verge of collapse, as they had been working with loans from some banks.Preliminary investigations by the police indicate that the suspect allegedly connived with the owner of the fuel station and all the products were directed to the said station and sold to the public.The police said the owner of the station, one Issaka Dauda, who confirmed receipt of all the products, had been remanded in police custody by the Takoradi Circuit Court.