T5PC was a controversial Norwegian Multi-level marketing

Multi-level marketing

Multi-level marketing is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit, creating a downline of distributors and a hierarchy of multiple levels of compensation...

 company that went bankrupt in November 2004.

As per November 2004, it had among 50,000 members (Although most papers write 70.000, this was the counting of the exact account, it is more likely that the number is 50.000), and it is claimed that its members lost as much as 1 billion NOK

NOK

NOK or Nok may refer to:*Kiel Canal *Norwegian krone, NOK is the ISO 4217 code and is used as an abbreviation for the currency.*NYSE stock ticker for Nokia Corporation, based in Finland...

 ($160 million), thus making it one of the biggest economic frauds in Norwegian history.

An investigation was undertaken by Økokrim

Økokrim

The National Authority for Investigation and Prosecution of Economic and Environmental Crime is Norway's central unit for fighting economic and environmental crimes. The unit, created in 1989, has its main office in Oslo....

. Bankers complained that they had alerted Økokrim about problems with T5PC as early as summer 2003. In 2006 Økokrim indicted 4 people involved with T5PC for breach of trust with fraudulent intent.

Some of the main individuals responsible, including Henrik Ellefsen

Henrik Ellefsen

Henrik Andreas Leo Ellefsen is a Norwegian businessman. In 2007, he was formally charged by Økokrim for his role as one of the people responsible for the T5PC fraud, in which some 80,000 people lost about ....

 and Jørn Ronnie Tagge

Jørn Ronnie Tagge

Jørn Ronnie Tagge is a Norwegian convicted fraudster, known as one of the people responsible for the so-called T5PC fraud, one of the biggest economic frauds in Norwegian history, in which some 80,000 people lost about 1 billion NOK...

, were convicted on charges of fraud in December 2007.