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

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?