– Today we submit a formal claim to the estate of lawyer Ousdal. It will amount to approximately NOK 330 million from 45 creditors, says Bård Ivar Koppang at the law firm Selmer. In addition, the Haver law firm has notified claims for around NOK 250 million from around 30 other creditors. The now deceased Per Asle Ousdal (67), former partner in the Bull Årstad DA law firm in Stavanger, is said to have raised loan capital from investors over several years. It became known at the beginning of June. Økokrim and the Norwegian Financial Supervisory Authority are now investigating the case. Fictitious loans Lenders were offered interest rates of 13–15 per cent, without risk. Ousdal informed the lenders that the law firm guaranteed the funds paid in through so-called declarations of deposit. But the guarantees turned out to be false. No signs of any real borrowers have been found either. All the millions have probably gone to Ousland himself, and to pay interest and installments on loans already taken out. According to themselves, Bull Årstad DA is the Stavanger region’s oldest law firm. Per Asle Ousdal was a partner in the firm, but left in December 2023. Photo: Erik Waage / news – It is one of the biggest fraud scandals in recent Norwegian history, says Koppang. The lawyer left Bull Årstad on 31 December last year. The company reported him to the police on 31 May. Three days later he took his own life. The family has chosen to be open about this. For the time being, executor Flemming Karlsen is aware of claims amounting to over NOK 600 million. Not all requirements have been formally delivered yet. – That you see such large losses in a private estate is highly abnormal. It is extremely rare, says the trustee. Sandnes lawyer Per Asle Ousdal (67) took his own life in early June. Several actors are now trying to find out how many Ousdal brokered loans for. Photo: advokat-ousdal.no Work to sell assets and investigation is in full swing, says trustee Flemming Karlsen. – We have secured everything of significant value. This includes, among other things, holiday homes, art and cars. However, there is little doubt that the estate is insolvent, meaning that the assets cannot cover the demands of the creditors. – The demands are dramatically much higher than values. For now. It is connected with the fact that much of the money that came in quickly disappeared again to service already existing loans, says Karlsen. – Should have rung a few bells The deadline for reporting claims is set for 31 July. – Getting an offer to lend money at 15 percent interest with full security: Should it ring an alarm? – There are many who believe that in the pale light of hindsight, some bells should have rung. Now we’ll see what the research shows us. It is striking that this has been able to go on for so long, says the trustee. Flemming Karlsen, lawyer at Stavangeradvokatene, is the executor in the case. Photo: Ole Andreas Bø / news Bård Ivar Koppang in Selmer reckons the chances are relatively good that the clients can get their money back. – There are many potentially responsible. Insurance companies, the company, the estate and others involved in this case, he says. He says the most important thing for his clients is to get their money back, but that it will take time. – Here there are long processes, necessarily because it is a complicated case with many people involved. Ponzi scam It is estimated that the scam has been going on for 17 years. Koppang believes trust is the key word for how something like this could happen. – There is trust in a lawyer acting honestly and properly, in assurances from one of Stavanger’s oldest law firms and insurance companies. Koppang believes Ousdal’s loan business is in the nature of a ponzi scam. – This just grows and grows. People get returns, they get repaid and they reinvest. This works, and people have faith that this is something that can be trusted, and then it continues. Koppang believes the loan business is a Ponzi scam. Photo: Thomas Ystrøm / news Some have made good money from the loan business. – When this grows to its highest level, it implodes. Then there is no longer any money left in this system to pay interest and repay debts. As far as Koppang is aware, all the clients of the law firm Selmer have provided the necessary information to the tax authorities. – Most of our clients are companies that have accounting and auditing obligations. Both wealth tax and income tax have been paid on the return, he says. Published 26.06.2024, at 20.24
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Promotes claim for 330 million against the estate of the deceased Sandnes lawyer – news Rogaland – Local news, TV and radio
