Did Baugur sneak out assets?

Baugur Group went bankrupt a few weeks ago. It turns out that Baugur sold assets to Gaumur, a company owned by Jon Asgeir Johannesson the owner of Baugu Group. Gaumur is in fact the largest owner og Baugur Group. Those assets are four real estates worth hundreds of millions ISK, last fall. The receivership director is now checking if this deal was legal or if assets got sneaked out of Baugur Group before it went belly up.

Two of those real estates are in London, one in Copenhagen and the fourth one is a ski resort in France, according to RUV, the main Iceland TV network. The receivership director can undo the deal if it turns out to be illegal. JAJ claims that the deal was in fact legal and done after a third party positive evaluation.

The blogsphere is in sinister mood today….

“Could it be that he also sold the private jet, the luxury yacht and the luxury cars to himself, that is what is being said on the streets.”

“Jon Asgeir is one of the worst criminals Iceland has ever produced- hopefully he is gone for ever-unless he returns in handcuffs. ”

The list goes on like that. Many claim that they think that every deal made by Baugur Group in the last few years is a scam and most of them custom made to sneak out assets and money. JAJ called RUV-TV yesterday evening after this story broke and claimed this was all a misunderstanding. The media is criticised for sitting on their ass and not doing much to find out the truth in this matter, and in fact all matters connected to the major business men here in Iceland.

The media is in fact on their payroll, since hey own most of it, and one of the most influential reporter at RUV that is supposed to be the best network, was JAJ communications chief at one point. It does not look good.

The media is almost out of play when it comes to investigating the whole mess because of connections and other similar bullshit.


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