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Norwegian Bank Boss Lost €1.2 Million and Lost His Job

Norwegian Bank Boss Lost 1.2 Million and Lost His Job

“It was like giving free booze to an alcoholic” the Norwegian bank boss Bjorn Helge Karlsen explained to the Norwegian newspaper “Naeringsliv”. He told them his story about how making corrupt deals in his bank led to him losing more than 10 million Norwegian Krone's, which is approximately €1.2 million.


Everything began in 2009, where Karlsen provided some advise to one of his customers on the forex market, which paid off big time. Karlsen received a large amount of money in his private bank account for the tip, which was quickly spend on playing online poker.


“I couldn't control myself when the money hit my account, so the more advises I gave to him that was beneficial, the more money I received in my private bank account, which I could gamble with” Karlsen stated to Naeringsliv.


Karlsen only played online poker and to continue to finance it he continued to provide tips to his customer. The problem for Karlsen was that it was against the rules to receive any form of financials for the tips provided, which has then led to him being charged with corruption together with his customer.


In total Karlsen made around €250,000 from providing tips to his customers, while the rest of the losses came from his own wallet.