Police raided brokerage firm

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Investigators from Norway’s economic crimes unit Økokrim have raided the offices of brokerage firm Nordic Securities in Oslo and Bergen, and charged several people working for the firm. They acted after state financial authority Finanstilsynet filed a complaint, and arrests were made last week.

Newspaper Dagens Næringsliv (DN) reported Wednesday that authorities claim the brokerage firm has set aside the interests of its clients in a manner not seen earlier. Authorities already had withdrawn Nordic Securities’ license in connection with criticism of its investment advice and sale of shares in its own parent company, The Nordic Group, to customers.

Prosecutor Trude Stanghelle wouldn’t say how many people had been charged or what positions they held in the company. “We’re conducting hearings now, going through data that’s been seized and other things in connection with the raids,” she told TV2.

newsinenglish.no staff

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