This image was lost some time after publication.

Accel Europe, the London-based arm of venture-capital firm Accel Partners, is attempting to raise hundreds of millions of dollars for a new fund. The effort will likely succeed, given Accel's brand name; its investment in Facebook has given Accel new cachet. One thing I'd love to know how the partners explain to potential investors: Why they have a convicted criminal in their midst.The firm's partners continue to back Kaj-Erik Relander, the former CEO of Sonera, who left the Finnish telecom firm abruptly in 2001 to join Accel. His downfall is Europe's own version of the HP pretexting scandal: He was charged with illegally using Sonera's network to monitor employees' and reporters' phone calls, in an effort to find leaks. Relander was convicted and given a suspended sentence. The last time Accel Europe raised money in 2005, the case was under appeal — a reasonable defense for Accel's support of Relander. But a court denied his appeal last year. What's Accel's excuse now? A commenter on TheFunded.com suggests Relander's questionable ethics are reflective of Accel's entire European branch, accusing the firm of backing shady startups. Whether such charges are true or not, they show why Accel's bullheaded defense of Relander is risky for the firm's reputation. Relander committed a crime. He was convicted of it. And now, Accel wants to give him more money to handle.