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Norwegian man jailed for 4.5 years in fake investment fraud

Crime & justiceCrime
Norwegian man jailed for 4.5 years in fake investment fraud
Key Points
  • Jan Helge Furu sentenced to 4.5 years for fraud involving over 14 million kroner
  • Fairmont Project never existed; Furu used fake executives to deceive investors
  • Over 20 people lost 40 million kroner; none have recovered funds

The court found that the Fairmont Project, at the center of the scheme, never existed as a real investment. Over 20 people invested more than 40 million kroner, promised quick and high returns, with payments dating back to 2005. Furu used fictitious executives such as 'Mr.

Hartmann' and 'Dr. Papas' to give the project legitimacy. By 2007, he had discovered that his Swedish collaborator was impersonating Hartmann by forging emails, but continued to use the alias to deceive Norwegian investors.

We have also noted that the sentence is stricter now, so this is a point it would be relevant to appeal.

Arnt Angell, Defense lawyer

None of the investors have seen any money returned. Økokrim previously described the project as a 'castle in the air'. NRK exposed the scheme in a Brennpunkt documentary in 2021.

7 million kroner and 28,000 kroner. The trial lasted 17 court days, with Furu and 17 witnesses testifying. The verdict is not yet final.

According to NRK Sørlandet, defense lawyer Arnt Angell said they will review the verdict before deciding on a possible appeal, noting that the stricter sentence is a point they may appeal.

Corroborated
NRK Sørlandet
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Norwegian man jailed for 4.5 years in fake investment fraud | Reed News