Financial Fraud unit (Økokrim) raided a brokerage house – several people arrested


Økokrim has conducted a search of the Nordic Securities brokerage house and has charged some people with financial fraud.


The first Deputy Attorney Trude Stanghelle says to TV 2 that the reason for the action was due to a notification from the Financial Supervisory Authority.

These people were arrested last week, while Økokrim conducted raids in both Oslo and Bergen. The inquiries that they are facing occurred a few years ago, according to DN

“We can confirm that Økokrim has conducted raids in Oslo and Bergen last week,” says Stanghelle. She does not want to say anything more about how many people have been charged or what positions they held in the company.

“We are now conducting an investigation on the items and data and that was seized during the search,” says Stanghelle.

The brokerage agency lost their license to provide investment services a year ago because they systematically violated provisions of the Financial Securities Act, according to FSA (Financial Security Agency). For example, selling shares to their customers of their own company.

FSA has criticized the brokerage house for their activities and Nordic Securities’ has complained that their license was revoked unfairly and that their complaints were not followed up.

According to the survey, 270 out of 300 customers lost money on their investments through the brokerage house, while they still charged and still increased their fees.


© NTB Scanpix / #Norway Today