Copenhagen - A Danish executive extradited from the United States on Tuesday admitted to allegations of fraud during a remand custody hearing at a Danish district court.
Stein Bagger, 41, was chief executive of the software company IT Factory and is alleged to have defrauded the group of some 182 million dollars and also falsified documents.
IT Factory was to have become co-sponsor of the CSC team of Danish ex-cyclist Bjarne Riis as of 2009.
Bagger's lawyer questioned the size of the sums during the court hearing on Tuesday, hours after Bagger's plane had landed, local media reported.