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Mikael LjungmanBusinessman and inventor
Date of Birth: 25.11.1963
Country:  Switzerland |
Content:
- Early Life and Education
- Professional Career
- Media Power Inc.
- Gizmondo
- IT Factory Scandal
- Legal Issues
- Danish Fraud Case
- Political Contributions
- Patent Applications
Early Life and Education
Mikael Jungman earned a law degree from Stockholm University in 1995. From 1995 to 1997, he worked in PC and server development and systems programming.
Professional Career
Business and FinanceFrom 1997 to 2000, Jungman worked as an international businessman and financial consultant. From 2000 to 2004, he focused on Internet and platform-enabled services such as VOIP, IPTV, and VOD. Since 2004, Jungman has been involved in creating e-commerce platforms, mobile applications, and software.
Media Power Inc.
Jungman co-founded Media Power Inc., a technology company that develops consumer and enterprise products based on augmented reality (AR) and other advanced systems. Media Power Inc. has two divisions: Magitech (high-tech products) and GetFugu.com (marketing services).
Gizmondo
Jungman's company 3P PreForm Marketing and Research conducted market research for Gizmondo Europe in 2003, earning $7.6 million. After Gizmondo Europe declared bankruptcy in early 2006, liquidators questioned Jungman but were ultimately satisfied with his explanations. In May 2008, Carl Freer acquired the intellectual property rights to Gizmondo Europe. Jungman worked closely with Freer on relaunching Gizmondo, with Freer referring to him as his "co-pilot."
IT Factory Scandal
In December 2008, it was reported that Jungman had business dealings with troubled Danish company IT Factory. He later claimed that he had lent a car to Stein Bagger, who drove it to Connecticut before disappearing and becoming a suspect in the Danish authorities' investigation into IT Factory's bankruptcy.
Legal Issues
3P PreForm Marketing and Research Bankruptcy3P PreForm Marketing and Research AB declared bankruptcy on October 15, 2004. Jungman was arrested on October 19, 2004, but was released before any charges were filed. On January 26, 2009, Jungman was convicted of illegal accounting and tax evasion. He initially received a two-and-a-half-year prison sentence, but the appeals court overturned the convictions on both charges. In a retrial, he was sentenced to 10 months in prison in January 2009. He was banned from managing companies in Sweden for five years, later reduced to three years starting in 2007. Jungman appealed the verdict to the Supreme Court, which upheld the sentence in April 2009.
Danish Fraud Case
In January 2009, Danish authorities investigating fraud at IT Factory expressed interest in questioning Jungman. They alleged that he had been involved in an illegal leasing contract between IT Factory and Xiop, a Swedish company where Jungman had previously worked as a business developer. However, Swedish prosecutor Ingve Rydberg denied this specific allegation. Rydberg also stated that Jungman was not under suspicion of involvement in any crimes being investigated in Sweden.
Jungman was later convicted in Denmark of accessory to fraud, and was sentenced to seven years in prison in March 2010. He has maintained his innocence in Stein Bagger's fraud and has appealed his conviction.
Political Contributions
Jungman has made contributions to the election campaigns of Antonio R. Villaraigosa for mayor in 2009, Hillary Rodham Clinton, and John Yarmuth.
Patent Applications
In 2006, Jungman filed patent applications in the UK and the US for a method of "mobile advertising" that sends advertisements to mobile devices before the time or date they are supposed to be displayed or streamed as media content, and for a method of selectively transmitting multimedia content such as sports highlights, video clips, or movies.
