The IT Factory, which was supposed to have been Denmark's cycle sport icon
Bjarne Riis' main sponsor for his CSC-Saxo Bank team as of January 1, has
been declared bankrupt. The company chairman Asger Jensby has confirmed the
According to TV2, the company's CEO Stein Bagger is being sought by
Interpol, allegedly according to several media reports for fraud, after
disappearing following a vacation in Dubai with his wife.
Jensby has told politiken.dk, however, that Bagger has not committed any
crime, and that his wife reported him missing.
IT Factory has otherwise seemed a successful company
and recently received the Entrepreneur of the Year Prize from the accounting
company Ernst & Young. The company has also won a prize in the Fast Growing
category and recently forecast a 2008 profit of DKK 400 million.