- Finance Credit
Finance Credit was a Norwegian company that went bankrupt in
2002 , after facing criminal investigation for siphoning funds (in total 1,4 billionNOK ) it borrowed from six Norwegian banks to offshore tax havens [ [http://www.aftenposten.no/english/business/article439239.ece Fraud fears mount in Finance Credit scandal - Aftenposten.no ] ] , in what became known as the Finance Credit scandal, arguably the biggest economic fraud in Norwegian history. The company was founded byTorgeir Stensrud andTrond Kristoffersen , who were in 2005 convicted on charges offraud to 7 and 9 years in prison, respectively. Stensrud and Kristoffersen were also both fined about 100 million €.The systematic fraud was revealed by journalist
Bjørn Olav Jahr .References
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