Finance Credit

Finance Credit was a Norwegian company that went bankrupt in 2002, after facing criminal investigation for siphoning funds (in total 1,4 billion NOK) it borrowed from six Norwegian banks to offshore tax havens,^[1] in what became known as the Finance Credit scandal, arguably the biggest economic fraud in Norwegian history. The company was founded by Torgeir Stensrud and Trond Kristoffersen, who were in 2005 convicted on charges of fraud to 7 and 9 years in prison, respectively. Stensrud and Kristoffersen were also both fined about 100 million €.

External links

Juryens begrunnelse SKUP-pris og diplomer 2002(translation: The jury's reasoning for (awarding the) SKUP-award and diplomas)

References

↑ Fraud fears mount in Finance Credit scandal - Aftenposten.no

This article is issued from Wikipedia - version of the Monday, March 18, 2013. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.