After his death, it was discovered that he had undertaken tax evasion on a large scale; however, his legacy continues in the form of two foundations, humanitarian and medical, that each award annual cash prizes.

In response and in order to conceal his ownership interest, Jahre claimed that these companies were owned by Aristotle Onassis.

[5] A further step intended to counter speculations regarding Jahre's ownership of CTC was taken in 1976, when the shares of the company were transferred to a Bahamian (later Caymanian) trust called Continental Foundation.

[7] He acquired a magnificent mansion in Sandefjord, as well as the 17th-century castle and estate of Osbyholm in Scania, where he created a large art collection.

[9][10] In 1999 Britain's highest court (sitting as the Privy Council) confirmed that Continental Foundation was not a validly established trust.

[6] Because documents relating to CTC had surfaced during an audit of Jahre's businesses in 1979, the tax authorities initiated a new round of investigations.

[13] Two Norwegian judgements, from 2002 and 2003 respectively, reflect that Jahre had ultimate control and effective ownership of the above-referenced foreign fortune during his lifetime.

[15] The amount would have been substantially higher but for the actions of an expatriate Norwegian, Thorleif Monsen, who in the 1970s was based in the Cayman Islands.

Jahre and his foreign fortune and acted as the straw man who, among other things, assisted with the transfer of the shares of CTC to Continental Foundation in 1976.

Those assets were used by Monsen and his children for private investments and personal expenses, as well as to finance legal challenges to the Jahre estate's efforts to recover and repatriate the foreign fortune.

Half of the foundation's funds are earmarked for medical science and research, with 25 per cent each going to the legal profession and the chemical and technical fields.

[8] The purpose of the foundation is to support initiatives of a humanitarian, cultural, and social nature in Norway, with particular emphasis on businesses in Sandefjord and Vestfold counties, with special consideration to elder care.