At left: Asger Jensby - victim or partner in crime?Reliapundit already updated our readers to the fact that Stein Bagger, embezzler extraordinaire, has turned himself in to the LAPD.
Allow me to add a few thoughts.
First of all, many are disappointed Stein didn't manage to prolong his existence as a fugitive.
The speculation and constant supply of new information has fueled a media frenzy in Denmark which captured the attention of the entire society.
Well, Stein wasn't on a freighter on his way to Latin America like in some classic black and white film from the 40's. He flew to New York, borrowed a friends Audi and credit card - and drove across the United States to turn himself in to the authorities.
When he did surrender he claimed that the past 4 years of fraud were the result of blackmail against himself and his family.
I do not believe it for a minute. How does the blackmail explain the apartment IT Factory purchased from his wife for 4.5 million kroner... or the Lamborghini that was parked there?
I believe Stein Bagger used this past week to move the 200 million dollars he / they embezzeled to more remote companies / accounts. Now, he will return to Denmark - do his time - maybe 3 years? - in a Danish prison (something like a Motel 6 - but the movies are free!) and when he walks he'll be in his late 40's and have $50 million. (I am assuming he has partners- perhaps C.O.B. Jensby - and money launderers to share his ill gotten gains...)
Just imagine - if the financial crisis had not dried up his access to further rounds of financing Bagger & Co. may have been able to embezzle 500 million dollars!
Allow me to add a few thoughts.
First of all, many are disappointed Stein didn't manage to prolong his existence as a fugitive.
The speculation and constant supply of new information has fueled a media frenzy in Denmark which captured the attention of the entire society.
Well, Stein wasn't on a freighter on his way to Latin America like in some classic black and white film from the 40's. He flew to New York, borrowed a friends Audi and credit card - and drove across the United States to turn himself in to the authorities.
When he did surrender he claimed that the past 4 years of fraud were the result of blackmail against himself and his family.
I do not believe it for a minute. How does the blackmail explain the apartment IT Factory purchased from his wife for 4.5 million kroner... or the Lamborghini that was parked there?
I believe Stein Bagger used this past week to move the 200 million dollars he / they embezzeled to more remote companies / accounts. Now, he will return to Denmark - do his time - maybe 3 years? - in a Danish prison (something like a Motel 6 - but the movies are free!) and when he walks he'll be in his late 40's and have $50 million. (I am assuming he has partners- perhaps C.O.B. Jensby - and money launderers to share his ill gotten gains...)
Just imagine - if the financial crisis had not dried up his access to further rounds of financing Bagger & Co. may have been able to embezzle 500 million dollars!
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