The leadership of Norway’s $1 trillion sovereign wealth fund is involved in an expenses scandal affecting both the incoming and incumbent chief executives.

Over the weekend, the fund’s current head, Yngve Slyngstad, acknowledged he accepted a private flight from Philadelphia to Oslo in November 2019 paid for by the man who would later be appointed his successor, Nicolai Tangen. In the US, Slyngstad had attended a seminar organised by Tangen at the Wharton Business School.

Today (April 20)