4 DnB Nor employees arrested for Corruption

Four employees of Norway’s biggest banking group,DnB Nor have been arrested with the accusation of serious fraud and gross corruption. Total of eight people have been arrested in the Oslo area after a police operation on Tuesday

The arrest took place in a coordinated operation with the Oslo Police District, where eight more people were also arrested in connection with an organised network for economic crime at various addresses in Oslo. It was reported that the arrested men are between 28 to 45 years and two of them were working in Østfold county branch of the bank, while two are employed in Oslo.

Suspicion of loan fraud

DnB Nor has confirmed to Norwegian channel, TV 2 that four of their employees Tuesday were reported to police as a result of suspicion of credit fraud.

“Between 2008 and 2009, the bank reported several cases of loan fraud against the bank in Oslo and Østfold on the basis of false loan documents. As a result, the police arrested four of DnB’s employees in Oslo at their respective place of work .

Fraud for 150 million

In early May, seven people had been arrested ein connection with fraud against banks and insurance companies for a total of 150 million. Also, since 2006, the five banks submitted 65 reports to the police. But there was not a complete overview of the case.

-“We are investigating the possibility that the matter may be far more rooted”, said the police chief. He also said that the case is among the largest fraud and corruption cases he has encountered.

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