Henrik Ellefsen

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Henrik Andreas Leo Ellefsen (born 20 June 1971) is a Norwegian former businessman. In 2007, he was formally charged by Økokrim for his role as one of the people responsible for the T5PC fraud, in which some 80,000 people lost about NOK 1 billion (US$160 million).[1]

On 21 December 2007, he was convicted on charges of fraud and sentenced to 3 years and 6 months in prison.[2] He was also fined NOK 3,6 million (ca. € 500,000), and was barred from engaging in any form of trade for 5 years. The verdict was appealed on 22 January 2008. Borgarting Court of Appeal only accepted the appeal over the sentence, and in 2010 sentenced Ellefsen to 3 years and 6 months in prison, fined him 3,6 million NOK and sentenced him to loss of rights.[3]

According to the verdict of Oslo District Court, Henrik Ellefsen played a central role in the T5PC system, as chairman of PWR Charge AS and CEO of Exente Securities ASA. The company PWR Charge AS was used to steal money from the T5PC members, according to the verdict.

His father, Harald Ellefsen, was acquitted in the same case. He was the owner of Exente Securities ASA, until he sold it to T5PC.

Henrik Ellefsen has written a book about the T5PC scandal, parts of which were presented in court as evidence, after the Økokrim found the manuscript during a raid. Ellefsen told the court that he wants to publish the book, to "explain to the members of T5PC what happened".[4] The manuscript was entitled "T5PC til tross for bedre vitende - En sann historie om håp og grådighet" (T5PC in spite of better knowledge - A true story of hope and greed").

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