Sun 15 Aug 2010
Net closing in on missing Stein Bagger millions…
Posted by webmaster under Industry , News , FlickrNo Comments
Money trail leads to three bank accounts in the US
In collaboration with the FBI, the Danish police has tracked down a large portion of the estimated 220 million kroner that Stein Bagger, along with his Swedish accomplice Mikael Ljungman, embezzled from his company IT Factory, according to a report in financial daily Børsen.
The FBI and a Danish special task force have followed the trail of a sum amounting to 162 million kroner that was transferred to Ljungman’s Swedish company Xiop, and then divided between three accounts: two US-based firms, Ecommerce LLC and Media Power, both of which Ljungman owns together with the already-convicted Swede Carl Freer; and a secret account with a US credit card set up under the name Lord Mikael Ljungman.
Police have been looking for the embezzled money for 18 months, and according to Børsen, they have reportedly applied to Lyngby Court for a seizure warrant to acquire the cash from all three accounts.
Copenhagan Post Online’s story here www.cphpost.dk/component/content/49712.html?task=view
http://www.flickr.com/photos/wapster/4894548324/