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Monday, 14 January, 2002, 14:29 GMT
Nokia boss gets record speeding fine
Anssi Vanjoki
Mr Vanjoki: Appealing against fine of 14 days' income
A director of the Finnish telecommunications giant, Nokia, has received what is believed to be the most expensive speeding ticket ever.

Anssi Vanjoki, 44, has been ordered to pay a fine of 116,000 euros ($103,600) after being caught breaking the speed limit on his Harley Davidson motorbike in the capital, Helsinki, in October last year.

Harley Davidson motorbike
Mr Vanjoki is a Harley Davidson enthusiast
Police say he was driving at 75 km/h (47 mph) in a 50km/h (31 mph) zone.

In Finland, traffic fines are proportionate to the latest available data on an offender's income.

Mr Vanjoki has announced he will appeal, because his income has since dropped.

Share-price slump

Mr Vanjoki had to pay a fine equal to 14 days of his income in 1999, which was about 14 million euros ($12.5 million).

Nokia president Pekka Ala-Pietila
Nokia president Pekka Ala-Pietila racked up fine of just 35,000 euros
His income had been boosted by large share options, which he cashed in at end of the year.

But a newer set of figures - this time without the share options - was published only five days after the incident, and would have resulted in a considerably lower fine.

Mr Vanjoki's income fell sharply last year as Nokia's share price plummeted, along with other tech shares, making option sales uneconomical.

His fine beats an earlier speeding penalty of 80,000 euros handed down to internet millionaire Jaakko Rytsola.

Mr Vanjoki's colleague, Nokia president Pekka Ala-Pietila, was once fined the far lower figure of 35,000 euros.

The appeal will be heard on 15 May.

See also:

07 Nov 01 | Scotland
Amoruso gets speeding penalty
11 Dec 01 | Business
Nokia predicts strong growth
23 Aug 01 | Business
Charting the rise of Nokia
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