IT Factory director turns himself in to police

Stein Bagger, director of technology firm IT Factory, the recently bankrupted co-sponsor of Bjarne Riis' Danish ProTour Team, walked into a Los Angeles police station Saturday and admitted he was wanted for fraud, according to the Los Angeles Times. Until his appearance in downtown Los Angeles, Bagger had last been seen on November 27 in Dubai, United Arab Emirates, where he was vacationing with his wife and daughter.

Bagger had allegedly taken a conference call the day he vanished. Worried, his wife contacted authorities leading officials inside and outside the company to launch an investigation. Within days, it was revealed that more than 90% of the company's revenue was based on fraud.

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Based in the southeastern United States, Peter produces race coverage for all disciplines, edits news and writes features. The New Jersey native has 30 years of road racing and cyclo-cross experience, starting in the early 1980s as a Junior in the days of toe clips and leather hairnets. Over the years he's had the good fortune to race throughout the United States and has competed in national championships for both road and 'cross in the Junior and Masters categories. The passion for cycling started young, as before he switched to the road Peter's mission in life was catching big air on his BMX bike.