Norwegian Court Upholds Lunder’s Release Order

  • Business & Finance

An appeals court in Norway upheld the verdict of an Oslo district court Tuesday on releasing Jo Lunder, former head of Russian mobile operator Vimpelcom and now suspended Chief Executive Officer of the Fredriksen Group.

“We won 2-1, he will not be held in police custody, Lunder’s lawyer, Cato Schioetz, is cited by Reuters as saying.

Just last week, an Oslo court ruled that there was no substantial evidence to support Lunder’s involvement in Vimpelcom corruption case, on the grounds of which Lunder was arrested.

Lunder is linked to an alleged bribery case in Uzbekistan while working as head of VimpelCom in 2011.

According to the allegations, Lunder is believed to had paid USD 30 million from Vimpelcom to an account in Switzerland, belonging to the Uzbek company Takilant, to bribe officials in Uzbekistan in order to secure permits for wireless connections.

However, Lunder declared innocent on the said charges.

Lunder acted as former head of VimpelCom from 2011 till 2015, before he was appointed head of the Fredriksen Group in May this year, a role he assumed in September.

Following the latest developments, Lunder has stepped down from his position at Fredriksen Group until further notice.

Investigation into the case continues.

World Maritime News Staff

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