Jo Lunder, who was group chief executive for shipowner John Fredriksen in 2015, earned a pre-tax profit of NOK 75m ($9.3m) from his private company Cigalep last year.
Lunder took up his post with Fredriksen in May 2015, but was dismissed after his arrest a few months later by the Norwegian Authority for Investigation and Prosecution of Economic and Environmental Crime (Okokrim) on suspicion of corruption at his previous employers, Telenor Group and Vimpelcom (now Veon).
The charges against him were finally dropped last year and, since then, Lunder and his attorneys have been preparing a compensation claim against the Norwegian state.
The claims could amount to as much as NOK 500m, which Lunder estimates he would have earned if Okokrim had not launched the corruption case.
Fredriksen has told TradeWinds he does not intend to rehire Lunder.
“We have recruited a number of very talented people and I don’t see a need to recruit more,” Fredriksen said.
The 2017 profits for Cigalep were related to a sale of shares, in particular Norwegian IT company Evry, which Lunder chaired.
At the end of last year, Cigalep had stock investments with a book value of NOK 38m and NOK 60m in bank deposits.
Lunder says he is now busy re-establishing himself in business life. His ordinary salary last year amounted to NOK 2.4m.
