#4 Stein Bagger

Company: IT Factor

Date captured: Dec. 6, 2008

Stein Bagger is a Danish businessman, entrepreneur and former CEO of the now-bankrupt company IT Factory. Before bankruptcy and subsequent fraud-scandal, he was named "Danish Entrepreneur of the Year" by Ernst & Young, and his company was named "Denmark's best IT-company" two years in a row by the magazine Computerworld. 

Bagger disappeared on 27 November, 2008, while on a trip to Dubai with his wife and some business colleagues. The Danish CEO was accused of scamming several banks and Fortune 500 companies such as IBM out of an estimated $205 million, on the 11 June 2009, making this the biggest financial fraud case in Denmark in recent decades.

Bagger was charged with fraud and forgery, and a warrant for his arrest was put out by Interpol. Stein Bagger turned himself in to US police in downtown Los Angeles on 6 December 2008. On December 16, he was extradited to Denmark and jailed in isolation pending further investigations. Stein Bagger was sentenced to a 7 year prison sentence, and he blamed his actions on being blackmailed by unnamed sources.

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