Monday, January 17

Man convicted of losing his own company for over 17 million

A 49-year-old man has been sentenced in Sør-Rogaland District Court to five years and six months in prison for gross financial infidelity and gross money laundering.

The 49-year-old man has decided to appeal the sentence of five years and six months in prison for gross infidelity and gross money laundering. The picture shows the courthouse in Sandnes.

For several years until his company went bankrupt, he lost it for 17.2 million kroner, writes Stavanger Aftenblad.

The man admitted partial criminal guilt. He admitted that he had transferred money to himself, but believed that 9 million had to be deducted from the indictment because it was money that had covered presentation expenses and expenses for business travel.

The money laundering indictment is based on the fact that the man withdrew money from the company and transferred it to accounts belonging to relatives. It was done for practical reasons, claimed the 49-year-old, who was not believed in it by the court.

Convicted on all counts

The man was also charged with fraud, lack of bookkeeping and forgery of documents, and the court believes he is guilty on all counts.

The sentencing points out that the combination of the offenses “is suitable for making it difficult to detect financial crimes”. Which seems aggravating, in addition to the fact that the 49-year-old has previously been convicted of financial crime.

In addition to the prison sentence, the 49-year-old is sentenced to endure confiscation of NOK 10.7 million, loss of the right to run an independent business, loss of the right to be a general manager or hold another senior position in any company, and loss of the right to to be chairman of the board of a company. The loss period is set at five years.

Anchor judgments

– My client believes that the verdict is wrong on several points. He has decided to appeal, says the defendant’s defense counsel, lawyer Arvid Sjødin, to Aftenbladet.

In addition, a 52-year-old man who in 2015 became chairman of the company was sentenced to two years and six months in prison for gross infidelity, gross money laundering, lack of bookkeeping and forgery of documents.

Leave a Reply

Your email address will not be published. Required fields are marked *