Written by Lars Abild, Economic Weekly
Feb 4, 2025
The former mastermind police, today the National Unit for Special Economic Crime, NSK, has now surprisingly entered the case surrounding the bankruptcy estate of Kasi ApS.
The former mastermind police, today the National Unit for Special Economic Crime, NSK, has now surprisingly entered the case surrounding the bankruptcy estate of Kasi ApS, which has been in dispute for several years over a bonus of several hundred million kroner with the listed company Pandora.
According to information from Økonomisk Ugebrev, it is precisely this matter that a team of police investigators is now digging into. They are reportedly investigating the spectacular and mysterious circumstances regarding the bankruptcy estate of Kasi ApS and the possible lack of payment from listed Pandora to Kasi ApS.
According to information from Økonomisk Ugebrev, NSK's plan is to question former Pandora executives to hear their version of the case, whether Pandora in its subsidiary Pandora CWE - the European company - operated something resembling double-entry bookkeeping.
Økonomisk Ugebrev has previously revealed that there were two accounts for the European subsidiary in the years when Kasi ApS had to settle for the sale of a large stake in the European subsidiary, due to achieved results.
Based on specific internal documents from Pandora, Økonomisk Ugebrev has described how an internal account showed large profits, from which other Pandora managers received bonuses – and also an external account that showed a much lower result – and on which Kasi APS was settled.
Pandora could use the smaller result to prevent the former owner of Pandora CWE, Jesper Nielsen - also known as Kasi-Jesper - and his family from receiving an earn-out payment of a three-digit million amount.
The question is whether double-entry bookkeeping is illegal, and which of the two accounts should have been correctly used to calculate the agreed earn-out to Kasia ApS. None of the parties has been able to present unambiguous documents showing which accounting report should be used as the basis for the earn-out calculation. That is, neither has Pandora.
According to information from Økonomisk Ugebrev, Kasi-Jesper and close acquaintances have been questioned by the police authority NSK in Glostrup, which has two employees on the case, and meetings have been prepared with former Pandora executives outside the country.
As Økonomisk Ugebrev has previously described, Pandora allegedly wrote down the result in Pandora CWE by purchasing returned goods from global Pandora for the European company, which had nothing to do with the company, and writing down their value, which negatively affected the final financial result.
Kasi-Jesper says that he has no comments on what NSK is working on regarding the new information.
Pandora has stated on several occasions that the case has no basis in fact. The rhetoric from Pandora has been so violent that Kasi-Jesper has filed a police report against them for libel.
Economic Weekly is working to get a comment from Pandora.