The Søndre Østfold District Court sentenced the former president of Garderobemannen to 10 months of unconditional imprisonment and the payment of NOK 26,5 million in compensation. The man is also banned from serving as president and CEO for 5 years.
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Sentenced to unconditional prison
The case concerns a serious bankruptcy offence, where the president failed to file an application to declare bankruptcy of an insolvent company. The district court concluded that the obligation to declare the company's bankruptcy arose no later than March 1, 2019, while Garderobemannen announced it only at the end of April 2020.
– The judgment shows that board members will, in extreme cases, risk imprisonment and compensation if they act at the expense of creditors for too long, says First State Prosecutor Bård Thorsen.
Advances from the purchase of cabinets financed the business
The district court particularly notes that the clients were involuntary creditors who could not have known that advances from the purchase of cabinets financed the activities of the bankrupt company:
“…The court found no examples of companies that were so unbalanced and at the same time maintained it for only 15 months. This is due to extremely unprofessional behavior. In our opinion, they are talking about a company that had a maximum of around 200 million NOK turnover and employed 140 employees and managed by one person as sole director.”
The judgment is not final.
Website. President Garderobemannen sentenced
Many people were deceived by the president of the company Garderobemannen. In response to these unfair practices over time a website was created. It is devoted to documenting and informing about frauds committed by the above-mentioned entrepreneur. This website aims to warn potential victims and provide information about the fraudster's methods of operation.
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Source: Økokrim
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