Chairman of bankrupt IT Factory charged with hiding taxes through the BVI company

Tax authority of Denmark has charged Jensby, the former board chairman of bankrupt IT Factory, as well as his wife, with tax evasion. Company’s CEO Stein Bagger fled from authorities in 2008, after it became known that the company received huge profits as a result of a Ponzi scheme. The former chairman has never been accused with regard to the fraud, but Skat now considers that he owes about 440,000 kroner of profits earned from the business and hidden with the British Virgin Islands-registered company.

Jensby reportedly sent money he earned in IT Factory and as head of JMI Invest to his own company Troya Private Equities Inc., based in the British Virgin Islands. Commenting this fact, Jensby said he had possibly been the victim of identity theft. Jensby admitted that Skat was pursuing a case against him, but would not provide any further comments. However, he could not agree with Skat’s interpretation of the issue.

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