TGS Raided by Police, Charged With Tax Fraud in Industry Swoop
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Police raided the offices of TGS Nopec Geophysical ASA and charged Norway’s biggest seismic surveyor of offshore oil and gas deposits with criminal violation of tax and trading laws as part of an industrywide swoop by prosecutors. The company fell the most in two weeks in Oslo trading.
Investigators stormed local oil-industry companies, arresting executives and issuing charges of tax fraud, accessory to tax fraud and market manipulation, said Marianne Steensen Bender, a senior public prosecutor. She declined to name companies other than TGS, which said it was raided and charged in a statement.