Norwegian police drop case against ex-Vimpelcom chief (updated)

VEON

01/11/2017 08:53

(Adds background) 
    OSLO, Nov 1 (Reuters) - Norwegian police have ended a 
corruption investigation into the former chief executive of 
Vimpelcom, a company now known as Veon  VON.AS , saying on 
Wednesday he was no longer a suspect. 
    Jo Lunder was briefly held by police in 2015 as part of a 
probe into the company's business in Uzbekistan and had since 
been under investigation. 
    Following his arrest, he resigned from his position as chief 
executive of the Fredriksen Group, a company controlling 
billionaire investor John Fredriksen's holdings in shipping, oil 
services, fish farming and other business. 
    "The case has been dropped," the police said in a statement. 
    Lunder now plans to sue the police for damages, his lawyer 
told Reuters. 
    "Jo Lunder is very happy about this. It has been a tough 
time and he feels relief that it is all over," Cato Schioetz 
said. 
    Vimpelcom admitted in February 2016 to having paid more than 
$114 million in bribes to a high-ranking Uzbekistan official, 
and agreed to pay $795 million in penalties to resolve related 
U.S. and Dutch probes. 
 
 (Reporting by Joachim Dagenborg Writing by Terje Solsvik; 
Editing by Gwladys Fouche and Mark Potter) 
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70, Reuters 
Messaging: terje.solsvik.thomsonreuters.com@reuters.net)) 
 
Keywords: VEON CEO/CORRUPTION