Verdane’s Insider Trading Scandal: Two Executives Implicated, NOK 10m in Illegally Gained Profits
Oslo Police and Norwegian Financial Supervisory Authority Launch Insider Trading Investigation into Verdane
Oslo, Norway - In a shocking turn of events, Norwegian private equity firm Verdane has become the latest player in the Norwegian finance scene to be embroiled in an insider trading scandal. Co-founder and managing partner Bjarne Lie confirmed that two imprisoned employees had violated stock trading rules 1.
Imprisoned Verdane Executive Reportedly the Ringleader
The Oslo Police and the Norwegian Financial Supervisory Authority have launched an investigation into a network of 13 individuals, including a senior Verdane executive, charged with insider trading 1. The executive’s identity has not been disclosed, but they are said to be the ringleader of the group, with a reported total profit exceeding NOK 10m (EUR 878,521) 1.
Verdane Addresses Misconduct Allegations, Takes Immediate Action
Evidence of Misconduct
Bjarne Lie emphasized the seriousness of the allegations, stating, “We have uncovered clear evidence of our employees’ misconduct, which goes against Verdane’s code of ethics and our commitment to the highest business standards” 1. Verdane has informed the regulatory authorities and is cooperating fully with their investigation 1.
Implicated Employees Dismissed
The allegedly misconducting employees have been dismissed 1. Verdane has also conducted thorough internal investigations and stated that it has taken immediate action against the insider trading 1.
Investigation Ongoing, More Details to Emerge
The investigation is ongoing, and more details are expected to emerge in the coming days 1. Verdane will provide updates as information becomes available 1.
Carnegie Acquires Didner & Gerge: Deal’s Outcome Uncertain
Significant Event in the Norwegian Finance Industry
The news of the Verdane insider trading scandal comes on the heels of another significant event in the Norwegian finance industry. Carnegie ASA, the leading independent securities business in the Nordic region, has announced its acquisition of Didner & Gerge, a prominent Norwegian law firm with a strong presence in the finance sector 2 (Subscribers only).
Uncertain Outcome of the Deal
The deal’s outcome remains uncertain, as it is subject to the outcome of the upcoming procurement processes at the premium pension platform 2. For more information, please visit our subscriber area or contact our customer service 2.