An update on our previous article about bankrupt Danish company IT Factory and its missing managing director Stein Bagger: Bagger contacted local authorities in California and was arrested earlier today, say Danish news sites.
A translated version of one of the articles is here. A Danish reader named Mark Jensen writes to us:
The information is sparse right now, but the family left a post on their blog earlier today, stating that they had talked to Stein indirectly and knew he was okay. He had explained to them that he was forced into doing the fraud because he felt threatened, and that he wanted to talk to the officials in the country he was hiding in. Apparently he contacted the Californian police around 1 PM local time.
Stein Bagger is wanted by the Danish police for financial fraud and a possible link to an assault on a business man (alledgedly executed by members of the Hell’s Angels, a group he is possibly connected to). Bagger first disappeared a little over a week ago in Dubai, where he was attending a business conference with his family.
A lot of facts are still missing. We’ll update as this develops.
“he contacted the Californian police around 1 PM local time.”
The “Californian police”
LOL. You know all counties are one here in CA. I doubt this European would have made it to the state police barracks.
So did you do the research Mike. What county?
What is he being held on? What are the extradition terms between the US and Holland?
Are the Hells Angels going to testify against him?
God, this guy could have easily worked for the BDC or the government of Canada with his record.
Except he would send the rival gang the Rock Machine to hurt people instead of the Hells
http://en.wikip...ki/Rock_Machine
He’d also have to speak Creol and mention the “most vulnerable” every sentence or 2 never having met any.
Denmark, not Holland. I cannot speak intelligently on the various treaties between the U.S. and Denmark that touch on extradition.
As a journalist, and furthermore a lawyer, you could obviously look it up, and know where to look it up.
My bad on the Denmark/Holland mix up.
Unlike Karlheinz Schreiber
http://en.wikip...i/Airbus_affair
he was unfortunate enough to be in the US, where he can’t buy his way out of going back.
Crooks be warned, you want to deal with govt of Canada. Not the USA. They are your own. They just speak a different language. They are every bit as greasy as the world’s greasiest.
Go to Canada scumbags and be with your brethren.
Didn’t work for Karl-Heinz Schreiber long term. Canada eventually sent him to Germany, where he is now in jail.
Sorry,
Correction: it’s Denmark, not Holland. The Dutch live in Holland, the Danes in Denmark.
Thanks for the update!
He actually contacted the police, but they turned him over to the immigration authorities, so now some paper work has to be made before he can be handed over to the Danish authorities, which shouldn’t be a problem at all since the two countries have an agreement of doing so in these cases.
@Chris: He was arrested in Los Angeles.
Dude, I live in Culver City. Oh man, had I known I would have geo-tagged him with my G1 phone, Picasa and Pictorial and posted the link.
All I did today was drive to some girl’s house in Long Beach. (granted she was super hot)
M. Arrington should let us know when people are in LA or SF for the SF readers so we can do live geo-tagged man hunts. I totally would have done it for free. Gas is only $1.73 a gallon now.
That would have been so much fun. I feel cheated.
Gas is only $1.73 a gallon now.
Only if your car sucks.
Are you “super hot” ???
Can I drive to *your* place and hang out next weekend babe?
I promise to fill up on the next grade up, and splurge the extra dollar.
A few more points to clear up for the native english readers:
Stein Bagger had a track record of at least 17 bankruptcies, lying about his educational history (e.g. claiming he held an MBA which turned out to be a complete fabrication), and ties to a couple of swedish business men in the U.S. with previous fraud convictions. This was all revealed months ago, but few people took notice.
Once Stein Bagger returns to Denmark, he is facing fraud charges of upwards of USD 100 million.
(Oh and Michael, the source’s name is Mark, not Marks)
It’s a crime to exaggerate another’s person conviction if it’s not true. Mob justice is ugly. Jens Roland, I hope one day you will be held liable for this comment you made. Your real name is being used. Facebook requires this.
Adam, Jens doesn’t exaggerate anything, and doesn’t write anything that’s not true.
He has had 17 bankruptcies (it’s open to the public to see this – http://www.cvr.dk), he did lie about his MBA (and even hired an actor to convince the blogger and journalist, Dorte Toft, who has been following this story for a year, that he had an MBA from “San Fransisco Technical University”) and the Swedish guys do indeed have a track record of fraud – one of them is not even allowed to open a business of any kind in Sweden anymore.
And finally, Stein Bagger will face charges of fraud for not only USD 100 million, but USD 200 million now – the police keep finding more and more evidence on fraud.
We do agree that the mob justice is ugly, but in this case, it’s not an exaggeration at all.
“Adam”, everything I wrote is true. You are more than welcome to point out any exaggerations you believe I’ve made. Unlike you, I stand by my comment using my full name because I know my sources are solid, and every piece of information in my comment came from Sunday morning’s newspapers.
Oh, and the laws on slander and libel do make it a crime to publicly accuse someone of a crime they didn’t commit – which, incidentally, is exactly what you did in your comment. But then, I’m sure that’s why you didn’t use your full name.
“ties to a couple of swedish business men in the U.S. with previous fraud convictions.”
Jens Roland, you are committing a terrible crime by adding fuel to the fire by exaggerating his crimes. A person is only criminably liable for what he committed not what other commit and his association to what others do.
Mob justice is ugly. And you are one ugly mofo.
What you did say is illegal.
This is the second libelous post you have made about me while cowering in anonymity, and this time you added a personal insult as well. Your manners speak volumes about your character. I am done responding to your nonsense.
I love the quote from the LAPD..
“You never know who’s going to walk through the door, Today we got the millionaire next door — the only question is, Whose millions does he have? ”
http://www.lati...0,7625078.story
Of course Techcrunch is the place to read about this fantastic piece of crime too:-)
Re the phone scam put in place to fool me. The credit for finding out goes to TV2 – a public service station, competing with DR (Denmarks Radio) – once a monopoly. And yes – you americans will be able to enjoy it. The actor is american.
http://nyhedern...d-18853499.html
I’m still laughing.
Want to know the start of the public known deal of my research? Then just make a search for “IT Factory” on my blog (use the search field in left side) – better than the one in top.
Dorthe, congratulations on being the first to react.. TV2 might have uncovered the real story, but I know – and so do you, I’m sure – I’m not the only one who deeply admire the work you put into telling the world aboutIT Factory.. The reason why we can’t yet shut down mass media in exchange for bloggers, is that most bloggers still don’t leave their desks to get a story written.. You did, and I respect that..
Chris – If you are a journalist, maybe you should consider being a bit more professional when talking about other country’s….
The Danish are so funny! I am here in Copenhagen at the moment, its such a “Scandinavian” way of doing things!
This article is the best!
http://www.lati...0,7625078.story
“I am Stein Bagger,” the man said, putting his hands on the counter. “I’m a fugitive from Europe and I’m here to turn myself in.” Skeptical officers took the lean, 6-foot man back for questioning.
“We’ve had several people come in and tell us they were the king of Denmark,” explained Officer Jack Richter.
_________
Jack Richter – least he said Denmark and NOT Holland.
LOL!
I think this is hilarious.
Dude is a complete idiot! He was not forced, because apparently, this was something he wanted to do.
What an ass!
Yes!
Denmark is the greatest! The country of the greatest fairy tale manufactorer of all times: late mr. Hans Christian Andersen (king of shadow). And now this mr. Bugger, another fine danish crook!
Hollywood! Send your best brains to this, the promised land north of ugly Hitler Germany. Much to learn here.
P.S. May I add: Yes! Yes we can! And I may. Thank you!
Now I discovered, that Techcrunch beside others is sponsored by a crook named Bill Gates. (NB! Not a Dane.)
Ai, man! The rest is silence! From me. I promise!
P.S. The correct name is William something Gates. Sorry.
While good (and bad) people in gods own country tribute to goddess of sleep (a mr. Ole “Lukøje” (”close your eyes” Ole in danish myth),
the “Nissers” from Andersens Denmark (in family with roman “genius”) take over.
Hyg Jer! (E.G. Something like: have a nice day and evening and night.)
When is the movie coming out?
this is hilarious.
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