Wednesday, 3 December 2008

Stein Bagger updates


The mystery about Stein Bagger is still unfolding.

Here is a list of recent updates

  • The defrauded amount can be up to US$170 million and not US$100 million as reported earlier.
  • Danske Bank (Big Danish Bank) admits to having leasing agreements with “IT Factory” for US$60ml, most of which are made in 2008. The underlying assets seem not to exist.
  • Nordea Bank has leasing agreements worth US$3.5 ml.
  • Danish Hells Angels member Brian Sandberg has been employed by IT Factory and Stein Bagger for the last 12 months as “Security Consultant” guarding Stein Bagger and IT Factory. Brian Sandberg spoke to Stein Bagger just before he left to Dubai on Nov. 26th.
  • Stein Bagger owned 50% of IT Factory through an offshore holding company called Agios United. Everyone thought Aigos United was a 100% Stein Bagger Company, until this week where shareholders in IT Factory learned that Allan Vestergaard was a partner in the Agios United holding company
  • Allan Vestergaard was attacked last week by unknown persons. It seems to have some relation to the case. Allan Vestergaard then called the Chairman of the board of IT Factory and that started the ball rolling. The Chairman did not know Allan Vestergaard was a partner, and hurried to Denmark and hired a bodyguard.
  • The leasing fraud was based on Company X sending IT Factory an invoice for computer products for fx. US$10 ml. Then IT Factory went to a bank and got it financed. Then the bank paid company X. Thereafter IT Factory invoiced Company X for US$3 ml for “Software Licenses”, which company X then paid. That left enough cash in IT Factory to pay the outstanding leasing obligations and showed “software revenue”
  • Stein Bagger claimed that he had a Phd and an MBA. The MBA was according to Edinburgh Business School never completed. The Phd seems to be fake as well. It was “issued” from “SFTU” which according to Stein Bagger was “San Francisco Technical University” a University no one can find...

1 comment:

Skriverkarl said...

Strange how HA pops up all the time.
Stein Baggers Swedish friends says they're not part of the fraud-circus. Unbeleiveable, as they are have spent several years behind bars for all kinds of criminal activities. And they are connected to high level HA-members in Sweden.

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