Comments on: IT Factory’s Bagger Super Sorry For The Massive Fraud

By: Zattoo

Zattoo — Wed, 17 Dec 2008 08:59:55 +0000

Adding to the Hollywood storyline: a 4.8 earthquark hit Copenhagen then Stein Bagger touched down from LA.

The first earthquark this size ever!! Any good Hollywood screenwriter will make the connection….

By: 6ctwitams

6ctwitams — Sun, 14 Dec 2008 07:31:06 +0000

If I can have that 170M…s I might not be threatened just with 30times guns from fraud people in habitual practice like Him…I could be their deadliest treat at 100times….But with my face on IT business..I’m afraid business as usual could never be a fraud but suck.

By: Portable TV

Portable TV — Sat, 13 Dec 2008 07:20:43 +0000

Hmmm….super sorry…..great…..does that cut it for $170MM in lies?

By: chris

chris — Fri, 12 Dec 2008 20:37:05 +0000

Jorge, there’s no way that’s the reason. Arrington thinks like these people. He knows the real reason. So what is it Mike??

By: Jorge

Jorge — Fri, 12 Dec 2008 20:28:16 +0000

If executive compensation is based on purported company income, the *executives* have lots of incentive to falsify earnings.
What’s good for the goose is not good for the gander in this case…

By: Roundup: Layoffs hit Flickr, Apple’s 3D desktop, and more » VentureBeat

Fri, 12 Dec 2008 19:44:21 +0000

[...] executive Stein Bagger turned himself in to California police after disappearing in Dubai. Now Bagger tells the Danish press that he’s sorry for making up $170 million worth of revenue. Energy secretary candidate is a big fan of efficiency and tech — Berkeley physicist Steven [...]

By: Chris

Chris — Fri, 12 Dec 2008 16:32:01 +0000

“He would not say who threatened him, but told that they would have money from him. ”

http://www.tech...ldwide-manhunt/

Well, in your last post about him, you claimed that he had paid a motorcycle gang(Hell’s Angels) to beat the crap out of somebody he didn’t like.

Don’t you see them trying to extort him for years after doing so in exchange for not telling anybody about it?

I can believe he was threatened. I can even see that gang being mad at you personally for mentioning them on a forum that sees 1.7 million readers. They’re like that.

By: Chris

Chris — Fri, 12 Dec 2008 16:29:20 +0000

“90% of IT Factory’s revenues may have been nothing but lies”

Mike, this is Chris @ Culver City, why would you ever report more than you make?

That’s asking the IRS to come overtax you for 90% over your real earnings???

Aside from the fact that he was probably on crack at the time, what would motivate people to pay more in taxes by over-reporting earnings?

By: アメリカで自首したデンマークのCEO、「詐欺は脅されてやった。今は後悔している」

アメリカで自首したデンマークのCEO、「詐欺は脅されてやった。今は後悔している」 — Fri, 12 Dec 2008 16:19:03 +0000

[...] デンマークを代表するテクノロジー系スタートアップだったIT Factoryの末路は大いに注目を集める話題になっているが（ハリウッドで映画化されるかも）、詳細が次第に明らかになってきた。去る11月末、有名なCEO、Stein Baggerがドバイで失踪した。やがて、Baggerは行き詰まった会社と妻子を置き去りにして、ニューヨークに逃亡したことが判明した。Baggerはその後友達から車とクレジットカードを借り、はるばる地上を走ってカリフォルニアにやってきた。で、なぜか、その直後に地元の警察に自首した。デンマークのメディアはBaggerに接触してインタビュー（英語への翻訳はこちら）することに成功している。「いったいなぜ4年間に$170M（1億7000万ドル）にも上るの巨額の粉飾決算（IT Factoryの売り上げの90%は粉飾だったのではないかと疑われている）をしたのか？」というのが最初の質問だった。彼は、「自分や自分の家族を殺すと脅されていた。25回から30回も銃を突きつけられて脅された」と述べた。しかし相手の名前は明らかにしなかった。脅した相手は金を取ろうとしていたという。こういうことをする連中はみんな捕まってから後悔するわけだが。[原文へ]（翻訳：Namekawa, U） ShowListings(”arc3″); ShowListings(”arc2″); AddClipsUrl = ‘http://jp.techcrunch.com/archives/20081212it-factorys-bagger-super-sorry-for-the-massive-fraud/’; AddClipsTitle = ‘アメリカで自首したデンマークのCEO、「詐欺は脅されてやった。今は後悔している」’; AddClipsId = ‘2CBE02C952CFE’; AddClipsBcolor=’#78BE44′; AddClipsNcolor=’#D1E9C0′; AddClipsTcolor=’#666666′; AddClipsType=’1′; AddClipsVerticalAlign=’middle’; 次の投稿へ前の投稿へトラックバック [...]

By: Tech-PR

Tech-PR — Fri, 12 Dec 2008 13:33:59 +0000

This shows how a recession can be bring out a beast within us!

By: Bruce

Bruce — Fri, 12 Dec 2008 11:11:36 +0000

In America, investment loss is considered capital loss. You write this off as a business loss or as an income loss in your tax filing. There’s no need for violence.

The government takes taxes to provide protection to any human in the event situation like this occur.

The people who are threatening might be laundering money. That’s a crime.

By: EH

EH — Fri, 12 Dec 2008 11:00:04 +0000

That sounds pretty rough. It’s too bad that threatening people with guns isn’t illegal in Denmark, or else he could have called the police.

By: Adam

Adam — Fri, 12 Dec 2008 10:58:07 +0000

Mob justice is ugly. This is a good example from the comments seen so far.

By: Dennis Bjørn Petersen

Dennis Bjørn Petersen — Fri, 12 Dec 2008 10:22:57 +0000

Now the question is: Are these crocodile or real tears?

There is a new episode of this every day.

By: Foxinni

Foxinni — Fri, 12 Dec 2008 09:06:41 +0000

Sorry about this being danish. But someone compiled a funny version of what Baggers facebook feed might look like.

Check it out here:
http://www.what...-facebook-feed/

By: Alex Capehart

Alex Capehart — Fri, 12 Dec 2008 09:03:49 +0000

The way this is unfolding you could open the movie with Stefan (Mr. Gizmondo) crashing his Ferrari in Malibu.

Not to make light of this financial bilking but 10 to 1 they would use “Hollywood OS” on every laptop screen shot.

By: Kevin Minott

Kevin Minott — Fri, 12 Dec 2008 08:51:19 +0000

This does sound like a hollywood movie. I wonder how many other CEOs will go on the lamb come 2009. There could be alot of cooked books in this economy.