Oslo,Norway – A man is facing charges of large-scale fraud related to alleged deception of Salmar founder and chairman Gustav Witzøe,72,involving over NOK 1.2 million (approximately $115,000 USD as of August 12, 2025). The indictment, filed in Oslo District Court, details a two-year scheme allegedly orchestrated through the company Kvarv AS.
Witzøe, a prominent figure in the Norwegian aquaculture industry, established salmar in 1991, which has grown into one of the world’s largest salmon producers. According to Forbes, as of August 2025, Witzøe’s net worth is estimated at NOK 378 million, placing him among Norway’s wealthiest individuals. Salmar is headquartered in Kverva, norway.
Prosecutors allege the accused promised Witzøe repayment of the loans through an impending insurance settlement. To support this claim, the man is accused of fabricating official documentation, including a letter falsely representing a law firm and another purportedly from an insurance provider confirming the settlement.
The accused has denied the criminal charges. His defense attorney, Victoria Westrum of Elden law firm, has declined to comment on the specifics of the case prior to trial. Witzøe has also refrained from public comment.
The indictment further alleges the man is connected to multiple other instances of fraud,suggesting a pattern of deceptive practices. Details of these additional cases have not yet been publicly released.
Correction
A previous version of this article incorrectly identified gustav Witzøe as Gunnar Witzøe. This error has been corrected.The article was updated at 07.51 on August 12, 2025.
