New litigation by former shareholders of Aegean Marine Petroleum Network against founder Dimitris Melissanidis alleges that the company paid millions of dollars in consulting fees to his OilTank Engineering & Consulting during the construction of a terminal in the United Arab Emirates.

Once building was complete, OilTank allegedly spent the years after funnelling funds from the company to AEK Athens, a football club Melissanidis owns, and other personal ventures, court records claim.

Accusations of the transfer of money from New York-listed bunker supplier Aegean Marine to OilTank to Melissanidis' personal ventures is among new allegations made by former shareholders in a lawsuit filed last month in Luxembourg.