The Danish FBI is investigating possible billion-dollar fraud in Pandora: Kasi-Jesper never gives up.

New documents show that Kasi-Jesper may have been entitled to a billion in the case against Pandora. NSK is now involved, and several documents point to fraud at Pandora.

'I see this part as an entrepreneurial project, and now I'm going to get paid,' says Jesper Laustrup Nielsen, also known as Kasi-Jesper, in an interview with Presse-fotos.dk.

Most Danes have heard of Kasi Jesper, and the over ten-year-old case has made a lot of headlines over time. Among other things, back in 2021, when Jesper Laustrup Nielsen (Kasi-Jesper) lost a dispute with

Pandora.

The case had been going on for several years at that time, and therefore did not end in Kasi-Jesper's favor.

Kasi-Jesper has now gained insight into some documents that indicate that several managers at Pandora were paid a bonus on a significantly higher profit basis than what was included in the case. Presse-fotos.dk has seen the documents.

The new documents from former Pandora employees

In short, the documents indicate that Jesper Laustrup Nielsen may have had a significantly stronger case than was the case. He may have been right that Pandora owed him more money than he received. However, this will have to be decided by reopening the bankruptcy estate and a new arbitration. However, if it is the case that Pandora has not disclosed the correct figures in the calculation of the profit, then this may be a fraud case, as Jesper Laustrup Nielsen explains. This is where NSK comes into the picture (also called 'the Danish FBI').

NSK is now involved in the case. According to Presse-fotos.dk's information, an investigation into the case is underway. NSK itself can confirm that they have received a report made by Jesper Laustrup Nielsen (Kasi-Jesper). They confirm 'having spoken to him in this connection,' writes NSK in a written response to Presse-fotos.dk.

Presse-fotos.dk has submitted the information about the case to NSK for Pandora, as well as submitted Kasi-Jesper's criticism of them.

Pandora lawyer Jeppe Jensen says:

"Neither the Arbitration Court, the Maritime and Commercial Court nor the Eastern High Court have found any basis in Jesper Nielsen's accusations, and we consider the police report to be pure harassment and an expression of desperation. We are of course cooperating with NSK to the extent they wish, so that they can complete their investigations as quickly as possible."

What is the matter between Kasi-Jesper and Pandora about?

'It was very difficult for me to understand because when I sold the company, it was so extremely successful and we made so much money,' Kasi-Jesper explains to Presse-fotos.dk and continues:

'When I sell, I actually think, well, I'm 42 years old, it's really going well'.

Kasi-Jesper was then the manager and part-owner of the large business. He started and ran markets for CWE in Germany, Italy, Switzerland and Austria. In connection with the sale, they made an agreement on a so-called earn-out payment, which was based on the profit that Jesper Laustrup Nielsen could deliver from the sale. He sold his ownership stake in the subsidiary, Central Western Europe.

He received an early payment of 400 million kroner. In addition, Pandora assessed that Kasi-Jesper was not entitled to an earn-out payment, since at that time, according to them, there was no profit.

It is precisely this earn-out payout that the whole thing revolves around.

New documents that Jesper Nielsen has shown to Presse-fotos.dk indicate that Pandora has previously presented accounts to Jesper Nielsen, which in the context should show the results up to the sale, but that the actual figures may be very different.

The difference between the internal results that previous CEOs have presented is DKK 2.0 billion.

It is these billions that Kasi-Jesper wants paid out. However, that is not all. According to him, the total loss is significantly greater.

Pandora has previously denied that there is anything wrong, and stated at the time that there are two different contract types in which the operating profit is calculated differently.

A fraud case or an arbitration case?

The 2 billion kroner refers to the arbitration case, and it is Jesper's alleged losses that Kasi Aps has claimed. There is a summons from Kasi-Jesper for 5.7 billion kroner, which refers to the Nielsen family's losses.

'The Nielsen family has suffered another loss. I didn't get the money. I suffered a huge loss by not having had the money and being able to dispose of it,' Kasi-Jesper tells Presse-fotos.dk.

If NSK files charges in connection with a possible investigation into Kasi-Jesper's alleged double accounting at Pandora, it will most likely be a fraud case. However, NSK has not confirmed that they are investigating the case. According to Presse-fotos.dk, interviews have been conducted in the case.

Presse-fotos.dk has requested access to documents about this from NSK, which rarely provides information about ongoing investigations.

An application has been made to reopen the bankruptcy estate of Kasi-Jesper with a view to a new arbitration. In a possible case of double accounting, this will be a case against Pandora with criminal liability.

According to Presse-fotos.dk's information, meetings with former Pandora executives are planned by NSK. This information has not been confirmed by NSK.

'We're not cutting back on capital, we're finishing this now'

In an interview with Presse-fotos.dk, Kasi-Jesper talks openly about the entire process, which has influenced him both professionally and personally.

'It's been a rollercoaster ride,' he begins when asked what the process has done to him. He continues:

'I know this company better than anyone else, I founded it myself in the European markets'

The context of his being a major part of building the company has created a sense of incomprehensibility around the case, he explains. But a large part of the emotions surrounding the case have also been shaped by the public's impression of him.

'A narrative has been created that I'm such a bad guy, but I'm actually a pretty good boy,' he says and continues:

'It's been very frustrating for me,' he says, adding, 'it's been an incredibly hard pressure to be under all the time.'

When the conversation turns to the future course of the case, his voice brightens up. There is an energy in it for him, as he describes his motivation as follows:

'If you have to weigh my motivation in this, it's 80% percent victory and 20% percent money. I want my recovery'

In connection with the sale of mini-shares linked to the case, Kasi-Jesper can raise a significant amount of capital for the case. It is in this context that he says:

'We're not cutting back on capital, we're finishing this now'

Does Jesper never get tired?

'No, I don't, when I see this, a fire goes off inside me'

'I never give up, I just keep going'

He explains that it came to him like a bolt from the blue when he found the new documents in the case, which, according to him, show that the payment had been fraudulently made.

'I thought I was done. It's a miracle I found it'

In terms of his desire to win, he is unequivocally steely.

'I have to win. It defines me as a businessman my whole life'

In relation to what the future looks like if he wins, he explains that he has a strong feeling of having something unresolved with both Brøndby IF and handball.

The question of victory in the case has a very clear answer for him:

'I've got a fire in my eyes that's as big as when I started Pandora'

Jesper has initiated a total of three lawsuits against Pandora so far.