TaxCorporate TaxEx-Saab Automobile CEO and CFO arrested for accounting fraud

Ex-Saab Automobile CEO and CFO arrested for accounting fraud

Three directors including the CFO and CEO are arrested in Sweden for suspicion of attempts to “complicate tax controls” at Saab Automobile

Ex-Saab Automobile CEO and CFO arrested for accounting fraud

THREE FORMER Saab Automobile directors have been arrested in Sweden on suspicion of accounting fraud.

The three includes the former chief financial officer Karl-Gustav Lindstroem, chief executive Jan-Aake Jonsson, and general counsel Kristina Geers, Bloomberg reports.

According to court documents filed in Vaenersborg the three were detained for questioning on suspicion of “grave attempts to complicate tax controls” during 2010 and 2011, the Swedish Economic Crime Authority’s chief prosecutor Olof Sahlgren said.

“It’s about accounting measures to complicate the control operation of the tax authority regarding the calculation of taxes and fees,” Sahlgren said.

The crimes have a potential prison sentence of between six months to four years.

Geer’s lawyer denied the accusations on his client’s behalf, and told Bloomberg “we are all very shocked how this is being handled”, while Jonsson’s lawyer declined to comment. Lindstroem’s lawyer was not immediately available for comment.

The alleged fraud took place while Saab was owned by Dutch luxury car maker Spyker, which bought the business from General Motors in 2010. However, Saab entered administration in December 2011.

The business was then sold to National Electric Vehicle Sweden, a Hong Kong based business, which is planning to make electric Saab cars.

Saab Automobile is not part of the Saab Group that makes fighter jets and other defense security equipment. 

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