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F1 star, Kimi Raikkonen may loose huge in a company he invested In - Reports

Friday, 30 November 2012
Formula 1 star, Kimi Raikkonen could make big looses in an investment he made in a company which has come under investigation for suspected fraud.

Along with the CEO of Kinnevik, Vigo Carlund bought shares in the company 24 Mas. Now the Swedish Economic Crimes Bureau is investigating the company and investors may lose all their investment in the company, according to Swedish business daily, Dagens Industri.

Past reports had suggested that a group of small investors who had invested in the mobile ad company, 24 Mas were developing concern about noises coming from places. The Swedish Economic Crimes Bureau is now investigating what happened in the company because of suspicions that a major shareholder, Stockhouse looted it of money.

Meanwhile, investors' shares are reported, according to Dagens Industri, to be locked in an endowment in the British Virgin Islands, which is a tax haven. Among those who bought shares in 24 Mas is a variety of people including small investors and others, the former CEO of Kinnevik, Vigo Carlund.

"It was Swedbank who recommended me to buy shares in 24 Mas some one, two years ago., it seemed to be a good company and what is happening now is boring, " Vigo Carlund said to Dagens Industri.

He bought a large block of shares when the company was about to go public and now the IPO has been stopped. Vigo Carlund says that he personally can do without the money, but that the situation can certainly affect others harder. According to earlier speculations, it may be as much as half a billion Swedish Krona that is lost, and approximately 1,800 shareholders in total lost their investment.

Among the 226 registered shareholders the Finnish F1 racer, Kimi Raikkonen and some other big names were among the big losers.
By Scancomark.com Team

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