Finance Credit
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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[1], in what became known as the Finance Credit scandal, arguably the biggest economic fraud in Norwegian history. The company was founded by Torgeir Stensrud and Trond Kristoffersen, 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 €.
The systematic fraud was revealed by journalist Bjørn Olav Jahr.
