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About: Finance Credit     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatDefunctCompaniesOfNorway, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: companyyago:WikicatCompaniesDisestablishedIn2002yago:Abstraction100002137yago:Company108058098yago:Group100031264yago:Institution108053576yago:Organization108008335yago:YagoLegalActoryago:YagoLegalActorGeoyago:YagoPermanentlyLocatedEntityyago:SocialGroup107950920yago:WikicatDefunctCompaniesOfNorway New Facet based on Instances of this Class

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, in what became known as the Finance Credit scandal, arguably the biggest economic fraud in Norwegian history. The company was founded by and , 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 €.