Shipping billionaire John Fredriksen has lost a near decade-long legal battle against former executives of the Arcadia Group. A London court dismissed Fredriksen's $335 million fraud claim, which alleged that the executives had diverted oil trading profits for personal gain. The court found no evidence to support Fredriksen's accusations, stating that he had 'convinced himself that he had been defrauded.' The ruling also awarded the former Arcadia executives over $12 million in damages. This decision marks the conclusion of a lengthy legal dispute stemming from Fredriksen's claims of misconduct in the oil trading business.