Mikael Ljungman was born on 25 November 1963 and is a Swedish politician, lawyer and businessman.
16 Facts About Mikael Ljungman
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Mikael Ljungman is known for his association and involvement with two high-profile tech failures: the game console manufacturer Gizmondo in 2005 and IT Factory in 2008.
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Mikael Ljungman was selected as a Christian Democrats parliamentary candidate for the 2014 Swedish elections, as number 32 on their Stockholm candidate list.
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Mikael Ljungman worked with Freer on the relaunch of the Gizmondo, with Freer calling him his "co-pilot".
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Mikael Ljungman traveled to China in early 2008 to arrange manufacturing, a contract purported to be worth $300M.
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Mikael Ljungman was arrested on 19 October 2004, but released shortly thereafter pending trial.
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Mikael Ljungman was found guilty of false accounting and tax evasion on 26 January 2009.
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Mikael Ljungman initially received a two-year prison sentence; which was reduced to 10 months on appeal after the tax evasion charges were dismissed.
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Mikael Ljungman's appeal went to the supreme court where it was denied and he was imprisoned in late April 2009.
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Mikael Ljungman was linked to IT Factory's CEO Stein Bagger, who went missing four days before the company's collapse was publicly announced.
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Mikael Ljungman was arrested by Swedish police in Norrkoping where he had just started his ten-month sentence in an open prison and was extradited to Denmark on 27 July 2009.
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Danish media claimed that the Swedish police had found a fake leasing contract linking IT Factory with Xiop, a Swedish company where Mikael Ljungman had worked as Business Developer.
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Yngve Rydberg said at the time there was no suspicion of Mikael Ljungman being involved in the crimes being investigated in Sweden.
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On 26 March 2010 Mikael Ljungman was convicted of involvement in the IT Factory fraud in Denmark, and was released under supervision in September 2013 after serving slightly less than half of a seven-year sentence.
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Mikael Ljungman denied involvement in Stein Bagger's fraud and appealed his sentence, however as of the time of his supervised release, no successful appeal had been completed.
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Mikael Ljungman claimed he was interested in IT Factory's software PaaS, that he and Media Power tried to buy when IT Factory was liquidated.