All about Johnsen Oil

The Danish company Johnsen Oil has technology that purifies oil for water and particles, which means that there is no need to change oil and that fuel consumption is reduced.

The company with close to zero turnover is linked to falsified reports and shares sold at high prices. The company has been priced at many billions of kroner.

Connected to convicts

The four Norwegians Ole Petter Lindegaard, Leiv Are Kristiansen, Kristian Helgesen and Terje Hvidsten are connected to the Danish company Johnsen Oil, where large-scale trading of shares has taken place. All have previously been convicted.

President of the company is Norwegian Leiv Are Kristiansen. The largest shareholder is his father Jan Ingolf Kristiansen.

- Here, Økokrim must be on the field

BI professor Petter Gottschalk, who has written several books on white-collar crime, reacts strongly.

- If this is true, then it is not a question of pyramid schemes or doctor cheating or other previous crime, but of fraud, Gottschalk says to Nettavisen NA24.

Bought and paid stamp

The company's technical director admits that he has bought and paid for a document that has been used to lure investors to the company.

- Ingolf Kristiansen paid me money to do this, he says to Nettavisen NA24.

- Was pressured to do so

Lars Østlie strongly denies that the SINTEF document was a separate stunt.

- In my opinion, I did not make any forgery. What is written in the document is not incorrect and there is no incorrect information. It is also quite common practice to pay for test reports, says Lars Østlie to Nettavisen NA24.

- Will sue you

Chenghung Chen works on a daily basis in one of the world's largest funds, the Abu Dhabi Investment Council, ADIC.

He is also a board member of Johnsen Oil, and threatens Nettavisen NA24 with lawsuits.

Threats and torpedoes

The family of Leiv Are Kristiansen has got torpedoes on the door.

- Suddenly my mother calls me and says that there are large torpedoes on the door of her home in Gamle Leangvei in Asker. They are two torpedoes and they seem extremely threatening to my mother and my father, says Kristiansen to Nettavisen NA24.

Potentially huge case

In a letter to its shareholders in February, Johnsen Oil announced an IPO somewhere in Europe at a price of 10.50 per share. This corresponds to a pricing of around 500 million euros, or four billion kroner.

If the company manages to achieve such pricing, this could potentially be the Norwegian fraud of all time, the professor believes.

- Stolen technology

Leiv Are Kristiansen has previously started companies in the USA and Sweden with not completely different products.

Kristiansen says that there are no patents.

- Everyone talks about patents, there are no patents. It is a PCT application. We submitted new applications in Sweden, he says to Nettavisen NA24.

Decorated the bride with advertising

As a selling point to attract more investors, people closely associated with the company have used an alleged TV report, made by the finance-focused giant CNBC.

Among other things, it has been argued that Johnsen Oil has recently "been selected by CNBC as the one, by 20 candidates, with the greatest impact on the environment, and that a short program about the company will soon be broadcast on CNBC".

But the online newspaper NA24 reveals that CNBC has not made any report. It is an advertising video that the company has paid for itself.

Police on the case

The online newspaper NA24 revealed on Tuesday that the police in several countries are now looking at possible offenses around Johnsen Oil.

Ofre snakker ut

The online newspaper NA24 has spoken to several Norwegians who reach out to father and son Kristiansen, from the time they ran the company Clean Oil Technology.

One of these is Ellen Skogland (86) who lost five million kroner.c

Higher pricing

The Swiss-based financier Antonino Ilardo informs Nettavisen NA24 that the rumor in the market now is that shares have been sold as high as 50 euros.

If this is true, it will mean that the company with its 47,542,172 shares is priced at an incredible NOK 19.7 billion. That is almost three times as much as the value of Norwegian.

With an ownership share of 85 percent of the company, the paper value of 50 euros each is an incredible 16.7 billion kroner.

- Johnsen Oil is a scam

Lars Østlie is willing to reveal what he believes is the truth about Johnsen Oil.

- It's a scam they're doing. Apart from the product itself, which has become very good. Therefore, this is extra sin.

Journalists abused

Two of Dagens Næringsliv's most award-winning journalists are connected in a dirty game of many millions in the much-discussed case.

The two are Gøran Skaalmo and Knut Gjernes, who have won three and two SKUP awards respectively.

- Completed secret search

- This is obviously a possible fraud case, and then in that case it is clearly the biggest fraud case in Norwegian history, says BI professor Petter Gottschalk.

However, Gottschalk is sure that Økokrim is on the ball.

- I think I know how Økokrim works. I'm 100 percent sure they're working on this case.

- I think they have carried out a secret search of some of these people. They have some who are incredibly good at it, says Gottschalk.

Espen Lee and Hells Angels spokesman

A little over a month ago, Leiv Are Kristiansen in Johnsen Oil met someone who thinks Kristiansen owes him money, at Quality Hotel Sarpsborg.

Behind the scenes lurked the country's most talked about money collector, Espen Lee.

- I was called by an acquaintance, who wondered if I could come down to Sarpsborg, says Espen Lee to Nettavisen NA24.

Goldeheim

Party king Sverre Goldenheim pushed scandal shares on investor trip to Venice.

- I should get 15 percent of what my two contacts bought for. I do not want to say how much, but I can say enough that Kristian Helgesen owes me millions

Terminated mandate

Ilardo & Partner Asset Management has terminated its agreement with Johnsen Oil and is no longer talking to anyone in the company.

- Our names and the names of Ilardo & Partner Asset Management have been misused in criminal activities. Since our business is completely dependent on reputation and honesty, the abuse of the criminals around Johnsen Oil poses a significant risk of injury and our existence, says Harald Gruber.

- High price of patent

Leif Rørbøl, the company's patent attorney at Budde Schou, says that this is something that is unusual.

- If I have to say anything, it is that they have set the intangible values, which are patents, high. They are priced at more than NOK 40 million, while what is common is to invoice them at cost price. It seems very optimistic, says Rørbøl.

- How much is it?

- The cost of the patent is approximately one million Danish kroner, he says.

Called in on the carpet

The online newspaper NA24 can now reveal that the Johnsen Oil management, led by Leiv Are Kristiansen and CEO Henrik Karlsgaard, is in a crisis meeting with the owner of the football club Manchester City on Wednesday.

- You're on your way to Abu Dhabi to meet Chenghung Chen?

- Who told me that? asks CEO Henrik Karlsgaard Nettavisen NA24.

Norwegian arrested by FBI

The Johnsen Oil-linked Norwegian Svein Erik Ulsteen was imprisoned a few days before Christmas Eve

Among other things, he has been investigated for fraud and money laundering.

Since there is no extradition agreement between the United States and Norway, the FBI and special agent Kathia Harp, who is behind the investigation, were afraid that Ulsteen would escape the United States.

- Erik denies the accusations and we think he has a good case, says his defender Knut Johnson.

Sent boast message just before he was taken

The week before Ulstenn was taken, he sent a message of praise to the financial market.

On December 9, he and oil company Kabe Exploration announced that they had submitted a bid for a 566-acre oil field in Murray County, Oklahoma. The oil field referred to has an existing production equivalent to 93 barrels of oil per day and an annual cash flow of more than two million dollars, corresponding to 12.3 million kroner at today's exchange rate.

- We have received an overwhelming response to our attempts to raise capital, which has strengthened our balance sheet and belief that the purchase of core-producing assets with good operating income will create shareholder value in the long term, says CEO Erik Ulsteen in the announcement.

Gate ban and GPS transmitter

The hearing, which took place in San Diego, ended with Ulsteen escaping from paying a significant bail of one million dollars.

The judge also came up with a number of conditions related to Ulsteen's freedom of movement if the bail is paid.

He will be equipped with a foot shackle with a GPS transmitter and will not be allowed to travel outside California, he will be barred from ten in the evening until six in the morning and will not be allowed to contact any potential witnesses or investors.

Reported for gross fraud

A Norwegian 57-year-old has submitted a review of Stein Elling Wirum for gross fraud

- I feel thoroughly cheated, says the Norwegian to Nettavisen NA24.

The multimillionaire who is in his 50s has reported Stein Elling Wirum and another Norwegian in connection with the purchase of Johnsen Oil shares for just over NOK 2.5 million.

The reason for the review is that he has not received these shares.

Elling Wirum, for his part, believes that he has not done anything wrong, and claims that the two have agreed that the shares should be in his account.

- He and I have an agreement that we would sell together, when we received a good offer to acquire one or the other company. It is an advantage if you are to be able to sell quickly, says Wirum to Nettavisen NA24.

Considering confessing everything

Norwegian Svein Erik Ulsteen is in the think tank.

Ulsteen has not released the bail and is still in prison, and the hearing has been postponed until 13 February.

It also appears that he is considering making a confession with what it is he has done.

- Tried the bluff

- I and a partner met Leiv Are Kristiansen at Rober Palas Hotel in Spain in 2012, says Arne Tollefsen to Nettavisen NA24.

He believes that he and his partner were tried to bluff for millions at this meeting.

- Then Leiv Are Kristiansen was goal-bound and Trond Helge Johnsen was taken with his pants down. Leiv Are Kristiansen and Karlsgaard started small talk, they left the room and came back and said that they could go in with five million if we went in with five million. Then I and my players realized that it was just a bluff the whole thing and that was the proof that they had not received 35 million euros, says Tollefsen.

Svennis connected to the network

It turns out that "Svennis" is a close friend of the Norwegian Jarl Moe who is on the run from the English police on suspicion of financial crime in the millions.

- "Svennis" went so well for Jarl Moe and said that these were good investments. I did not understand anything, why should the former England football coach talk to me? But it was cool.

The Norwegian who has reviewed Moe was then introduced to Kristian Helgesen.

«Svennis»: - I should get paid for it

Jarl Moe has been reported by a number of people in England and Sweden for economic crime. Moe is alleged to have cheated more than five million euros, or 40 million kroner.

During a two-year period from 2011 to 2013, Moe cultivated close friendships with "Svennis". In the police report against Jarl Moe in Sweden, the former English national team manager in football is frequently mentioned.

- Jarl always told me that I would get a commission if I introduced him to my network. So I introduced him to two or three people, but nothing came of it. I have never received any money from Jarl, says Eriksson.

Named in the FBI report

Convicted Per Morten Hansen is linked to imprisoned Svein Erik Ulsteen.

The report states that as a consequence of the liquidation of the company Emission & Power Solutions, the subsidiary Anturion was restructured. In that connection, Ulsteen and his partner and co-director, Per Morten Hansen, resigned as directors of Anturion.

The company Anturion is based in the tax haven Guernsey. Both Svein Erik Ulsteen and Per Morten Hansen are among Anturion's largest shareholders.

- There's Jackie Chan holding a fucking fish

A Norwegian citizen says that as he asked Jarl Moe about how the investment in F7 went, he was sent a number of documents - which should be proof of a healthy operation

- In the beginning, of course, I believed in this. It was going to go very well, very fast, but as time went on I began to doubt more and more.

Especially a document he was sent stands out.

- There's Jackie Chan holding a fucking fish. What in the world is it all about?

- Used Dag Erik Pedersen

After first buying shares constantly, the Norwegian was offered new investment opportunities by Jarl Moe.

In a telephone conversation, Moe begins to mention another famous Norwegian.

- Jarl suddenly started talking about the Norwegian cyclist Dag Erik Pedersen, and that he should join.

- My clear opinion is that Dag Erik Pedersen was pulled forward to make me spend money on this here. Why else would he send me the email?

- But I have no suspicion at all that he is involved in this. I think he is another person who has been abused by Jarl Moe, says the Norwegian.

Ecocrime dropped the case

Both Økokrim and Follo police district have filed reports against Jarl Moe

Can get the punishment of the times

Norwegian Svein Erik Ulsteen lays the cards on the table.

Sentenced to several years in prison

It is now clear that Are Kristiansen and his father Ingolf, who is by far the largest shareholder, have decided to take a comprehensive step.