Microsoft’s Fast Charged with Fraud
October 16, 2008
Update, October 17, 2008, at 1 12 am Eastern: The Washington Post reports here that “was struggling to stay afloat” and restructured in August 2007, five months before the $1.2 billion Microsoft deal was announced.
Original Post
Breaking news: Norwegian police have charged Microsoft Fast with accounting fraud and raided the offices in Oslo about 8 a.m. local time. Here’s the Reuters article.
The offices have been closed to “secure evidence” and sources say this is a hot story with TV news footage of boxes being carried out of the offices as part of the criminal investigation. One report says Fast was not informed of the raid ahead of time, and CEO John Markus Lervik has not issued a statement.
Reports of possible rules violations were filed in May to Norway’s economic crimes unit, and in June they said they would investigate Fast’s auditor, Deloitte & Touche.
The police and Norwegian Ministry of Justice are among Fast’s customers in Norway.
If you read Norwegian, the article “Razzia hos Fast” is here, and, with photos, here.
Jess Bratcher, October 16, 2008
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