Kjell G. Finstad

Kjell Gunnar Finstad
Born (1939-10-04) October 4, 1939
Residence Texas, United States
Nationality Norway
Known for Fraud
Conviction(s) Multiple counts of fraud, including securities and accounting fraud

Kjell Gunnar Finstad (born 4 October 1939) is a Norwegian businessman and a convicted fraudster.

Finstad is educated as a geologist and started his career in the petroleum industry. He has also been involved in real estate speculation in Norway.[1] He became known when his investment company Norex went bankrupt with 820 million NOK in debts. The case was major news in Norway for several years.[2][3][4][5][6] The bankruptcy was described as one of the largest in Norwegian history.[7]

In 2010 he was convicted on multiple counts of fraud, including securities and accounting fraud, in connection with the bankruptcy.[8][9] The case also led to an investigation of Ernst & Young over their accounting practices.[10] Finstad formerly owned the Ekeberg restaurant in Oslo.[3] In 2016 Norway's largest newspaper Aftenposten and The New York Times highlighted Finstad's use of offshore corporations in connection with the Panama Papers controversy.[3][2]

References

  1. ↑ Vanvik, Harald (8 March 2007). "Finstad – gründer og gambler". Dagens Næringsliv.
  2. 1 2 "Panama Papers Show How Rich United States Clients Hid Millions Abroad". The New York Times. 6 June 2016.
  3. 1 2 3 "Her er Mossack Fonsecas «grundige bakgrunnssjekk» – oppdaget aldri at norsk kunde var straffedømt". Aftenposten.
  4. ↑ "Politirazzia hos Norex-gründer". Nettavisen.
  5. ↑ "Tiltale mot to tidligere ledere i Norex Group". Adresseavisen. 8 March 2007.
  6. ↑ Birkevold, Harald (31 March 2004). "Tappet Havanna for penger". Stavanger Aftenblad.
  7. ↑ Vanvik, Harald (13 November 2012). "Skjerpet straff for 73-åring". Dagens Næringsliv.
  8. ↑ "- Verste saken jeg har sett". Dagens Næringsliv.
  9. ↑ "Rike styremedlemmer". Dagens Næringsliv.
  10. ↑ "Ernst & Young granskes". NA24.
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