Legal

Atlantic Sapphire owner charged with drink driving

It is not the first time the investor has been in trouble with the police.

In September 2020 Runar Vatne was convicted of reckless driving, after driving 177 kilometers per hour in an 80-zone, a sentence that led to 23 days imprisonment and revocation of the driver's licence for 37 months.
In September 2020 Runar Vatne was convicted of reckless driving, after driving 177 kilometers per hour in an 80-zone, a sentence that led to 23 days imprisonment and revocation of the driver's licence for 37 months.Photo: Per Thrana/DN
Atlantic Sapphire's second largest shareholder and one of Norway's 400 richest people, Runar Vatne has been been charged with drunk driving without a driving license in a suburb of Oslo, reports IntraFish sister publication DN.

In April, Vatne was stopped in a Mercedes on the western edge of Oslo, according to a recent indictment in Oslo District Court.

He was found to have alcohol in his system above the legal limit in Norway and to have been driving without a valid license.

This is not the first time Vatne has been in trouble with the police in an alleged driving-related offence.

In September 2020, the investor was convicted of reckless driving, after driving 177 kilometers per hour in an 80-zone, a sentence that led to 23 days imprisonment and revocation of the driver's license for 37 months. At that time, the 47-year-old real estate billionaire gave an unreserved confession in court.

According to the Road Traffic Act, Vatne's latest alleged offence is usually punishable by a fine and unconditional or conditional imprisonment.

But Vatne may receive a more severe punishment if he is found guilty because it could be deemed a repeat offence.

According to the Norwegian Penal Code, in this case the prison sentence can be increased to up to double, and Vatne could be charged a fine up to 1.5 times gross monthly income. In Vatne's case, based on his publicly listed 2020 annual income, this could mean a fine of more than NOK 3 million (€305 million/$321 million).

Vatne has not responded to DN's repeated inquiries about the case in recent days. The case is scheduled for June 1 in Oslo District Court.

Through his company Vatne Equity, Vatne owns 5.64 percent of Atlantic Sapphire.

He is also the lessee of a 670-horsepower convertible 488 Spider and a Ferrari 488 Pista, with 721 horsepower and a top speed of 340 kilometers per hour. Only two 488 Pista are registered in Norway.

Vatne is a famous face on the German motorsport track Nurburgring, where he has participated in several races.

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Published 2 May 2022, 05:30Updated 2 May 2022, 12:59
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