Feeds

Danish IT chief 'on the run', suspected of fraud

Mystery over brutal attack on business partner

The Power of One Infographic

Interpol is seeking the missing boss of a bankrupt Danish IBM reseller IT Factory, who is suspected of frauds totalling $85m.

Local police are also investigating a brutal attack on a reported business partner of Stein Bagger days before his disappearance.

Danish daily Berlingske Tidende reports that Bagger left his wife last Thursday during a combined business and leisure trip to Dubai.

The saga is gripping Denmark. Bagger was known as one of its most charismatic business figures, who had presided over spectacular turnaround and growth of IT Factory. According to Computerworld Denmark it reported doubling of revenue and profits for each of the past three years.

Now financial authorities are investigating claims that success was based on fraud. On the same day Bagger disappeared, IT Factory chairman Asger Jensby applied to declare the company bankrupt, saying his signature had been forged on contracts.

As the scandal escalated, it emerged that on Monday last week, a man who claimed to own 50 per cent of Agios United SA, a Bagger company registered in Polynesia, was assaulted outside his home. "He was beaten with a blunt instrument, but we do not know what it exactly was," Nordsjællands police spokesman Henning Svendsen told the local newspaper.

Danish news sources are not reporting the identity of the victim, who was hospitalised and received 25 stitches. Bagger flew to Dubai the day following the assault.

Berlingske Tidende reports the Bagger family said: "We will not comment on commercial issues related to IT Factory and Stein Bagger's activities, which we have no knowledge of."

Bagger has not been charged with any crime. ®

Boost IT visibility and business value

More from The Register

next story
Yorkshire cops fail to grasp principle behind BT Fon Wi-Fi network
'Prevent people that are passing by to hook up to your network', pleads plod
UK government officially adopts Open Document Format
Microsoft insurgency fails, earns snarky remark from UK digital services head
Major problems beset UK ISP filth filters: But it's OK, nobody uses them
It's almost as though pr0n was actually rather popular
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
MPs wave through Blighty's 'EMERGENCY' surveillance laws
Only 49 politcos voted against DRIP bill
Help yourself to anyone's photos FOR FREE, suggests UK.gov
Copyright law reforms will keep m'learned friends busy
EU's top data cops to meet Google, Microsoft et al over 'right to be forgotten'
Plan to hammer out 'coherent' guidelines. Good luck chaps!
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.