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The former CEO of the now defunct IT Factory, Stein Bagger, has been found guilty as charged on 61 counts of fraud and forgery of almost one billion kroner and sentenced to seven years in prison, had DKK 50 million confiscated, was ordered to pay court costs and is not permitted to run a company again.
"This crime has been particularly extensive, well-planned and systematic in character. The sums involved and the losses have been major," said Judge Søren Holm Feerup as he delivered his sentence.
