The Extraordinary Rise And Fall Of Denmark’s IT Factory

Last week, Danish Computerworld awarded IT Factory, a provider of CRM, HRM and Business Intelligence add-on solutions based on a SaaS delivery model, with the prestigious “Denmark’s Best IT-company 2008?. This week, the company has been declared bankrupt and its managing director Stein Bagger went missing in Dubai while under scrutiny by the police.

The remarkable story is all over the Danish press but has remained largely unnoticed outside of the country so far.

Stein Bagger apparently got his hands really dirty: he’s wanted by the Danish police for financial fraud and a possible link to an assault on a business man (reportedly executed by members of the Hell’s Angels, a group he was connected to somehow), although charges haven’t been pressed so far. Nobody has seen Bagger since last Thursday, when he disappeared somewhere in Dubai, where he was attending a business conference in the company of his wife and child (his wife is also the one who reported his disappearance).

The Extraordinary Rise And Fall Of Denmark’s IT Factory

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