A Norwegian court has sentenced a man to two years and six months in prison after he fraudulently obtained loans totalling more than NOK 1.2 million (EUR 106,800) from Gustav Witzøe, founder and chairman of SalMar ASA, according to TV 2.
The Nordmøre and Romsdal District Court found that the man secured the loans through Witzøe’s holding company, Kvarv AS, between 2018 and 2020 by presenting forged documents claiming he was due a substantial insurance payout that would be used to repay the debt.
According to the judgment, there was no evidence that the insurance settlement existed or that the defendant had the means to repay the loans. The court found the purported insurance payment had been presented as security from the outset.
The defendant denied defrauding Witzøe but admitted partial guilt to two counts of aggravated fraud. He was convicted on four counts of fraud and three counts of document forgery.
In addition to the prison sentence, the court ordered him to pay NOK 1.245 million (EUR 110,805) in compensation to Kvarv.
The court said the offences formed part of a long-running and systematic pattern of fraud in which the defendant established trust with victims before exploiting it for financial gain. He was also convicted of defrauding his former doctor of more than NOK 1.5 million (EUR 133,500) and ordering an Audi RS 6 worth NOK 2.1 million (EUR 186,900) without financing.
Defence lawyer Victoria Westrum told TV 2 that the judgment would be reviewed before a decision is taken on whether to appeal.