Fugitive Danish IT chief surrenders to LA police

Stein Bagger, the head of a Danish IT company wanted for fraud by Interpol, surrendered to L.A. police on Saturday.

The head of a Danish software company who was sought by Interpol on alleged fraud and conspiracy charges turned himself in Saturday at a Los Angeles police station, according to a newspaper report.

Stein Bagger, CEO of Danish software and services company IT Factory, had not been seen since he disappeared Nov. 27 while on holidays with his wife and daughter in Dubai in the United Arab Emirates.

On Saturday morning he walked into a police station in downtown Los Angeles and said, "I am Stein Bagger. I'm a fugitive from Europe and I'm here to turn myself in," according to a report in The Los Angeles Times.

Police were initially skeptical but took him more seriously after noticing his Armani suit and $65,000 Rolex wrist watch, the paper said. He was turned over to federal authorities Saturday night and held at the Metropolitan Detention Center.

Bagger told police he landed in New York from Dubai on Nov. 28, borrowed a friend's credit card and Audi sports car and drove to Los Angeles. On Saturday morning he typed "police" into the car's navigation system and turned himself in at the first police department that showed up on the list, the L.A. Times said.

It's the latest twist in a drama that has made national headlines in Denmark over the past week.

IT Factory was an IBM business partner that provided hosted software services built on IBM's Lotus platform. The company reported soaring revenue and profit for the past few years and Bagger was recently named Danish Entrepreneur of the Year by Ernst & Young.

But last early last week, following investigative reports about the company by Computerworld Denmark, IT Factory filed for bankruptcy. Chairman Asger Jensby estimated that 90 percent of the company's turnover had been fictitious.

IT Factory allegedly created contracts for nonexistent products with companies that did not exist, and sold the contracts to banks and other investors. Denmark's largest bank, Danske Bank, said on Tuesday that IT Factory has debts with it of 350 million Danish krone (US$60 million).

Bagger apparently went to some lengths to cover up the unfolding scandal. When questions were asked about the authenticity of a PhD he claimed to have received from a "San Francisco Technical University," Bagger allegedly hired an American actress to pose as a university employee and verify his qualifications for reporters.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

James Niccolai

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?