Peter Siemer

"The Norwegian Northern Shipping AS never showed large profits. The company covered its costs, but not much more. The income was brokerage fees, primarily from John Fredriksen and his young, talented British broker Simon Day, but also from co-owner Peter Siemer. No one has ever become really rich from that. It would indeed have helped if the brokerage fees had gone entirely to Northern Shipping on Karl Johans street. However, along the way from their main customer Fahdi Shipping in Athens, a significant portion of the revenues disappeared. Instead, they went to an account in Jersey, which is not troubled by any noteworthy taxation."

"The time that followed was hard. At Northern Shipping, they kept receiving threatening calls from Peter Siemer, some of which were recorded. Finally, the three former partners played their best card: Fredriksen's dealings with the Norwegian tax authorities. Fredriksen was faced with an ultimatum: Either settle all accounts, or they would tip off the tax office about certain accounts in Jersey and other places. Shortly thereafter, John Fredriksen moved from Norway. On Monday, October 2, 1978, the unknown company Pantera Services Ltd. bought the three-story house at 23, Shawfield Street near King’s Road in Chelsea, London."