Knut Anders Opstad is a Norwegian broker and salesperson that worked for Terra Securities from 1997 to 2007. Norway ( Norwegian: Norge ( Bokmål) or Noreg ( Nynorsk) officially the Kingdom of Norway, is a Constitutional A broker is a party that mediates between a Buyer and a Seller. Terra Securities ASA was a Norwegian security company that sold various Financial instruments Index options, Hedge funds
From 2001 to 2007 he allegedly mislead, along with Harald Norberg, eight municipalities to make very high risk investments in products through Terra Securities. Harald Norberg is a Norwegian Broker, who has several times misled investment clients to make highly speculative investments On ground of assurance of the return there are two kinds of Investments - Riskless and Risky. Terra Securities ASA was a Norwegian security company that sold various Financial instruments Index options, Hedge funds In November 2007 this lead to the Terra Securities scandal and the following bankruptcy of the company after losing its concession because of misleading investment advice from Norberg and Opstad[1][2]. The Terra Securities scandal was a Scandal that became public in November 2007 and involved highly speculative investments by eight Municipalities of Norway in The case has been heavily argued through the media, having these brokers fingered as the scapegoats. The municipalities tried to hold the brokers responsible for the lost investments and forwared a motion to freeze the two brokers' personal assets. Opstads assets were temporarily frozen awaiting a hearing, but when the hearing was held the court found no foundation for the municipalities' claim and ruled in favor of the brokers. The municipalities had to cover the broker’s expenses in defending the misplaced motion.
References
- ^ Dagens Næringsliv (2007-11-27). Dagens Næringsliv, commonly known as DN, is Norway 's leading business Publication with a circulation of 70515 copies in 2004 (642000 Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 1095 - Pope Urban II declares the First Crusade at the Council of Clermont Terra-rådgiverne tjente grovt (Norwegian).
- ^ Dagens Næringsliv (2007-11-28). Dagens Næringsliv, commonly known as DN, is Norway 's leading business Publication with a circulation of 70515 copies in 2004 (642000 Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. For the town in Argentina, see 28 de Noviembre. Events Terra Securities ferdig (Norwegian).
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