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Saab execs arrested for fraud 22 May 2013

Three former executives of Swedish car manufacturer Saab Automobiles have been arrested on suspicion of accounting fraud.

Former CEO Jan-Aake Jonsson, and two other top level executives, one believed to be former CFO Karl-Gustav Lindstroem, were arrested on Monday in Sweden.

Speaking to Bloomberg, Olof Sahlgren, the Swedish Economic Crime Authority’s chief prosecutor, said the three were detained for questioning on suspicion of “grave attempts to complicate tax controls.”

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

The trio are being investigated for their part in obstructing the tax authorities’ review of the company’s affairs during 2010 and 2011. The crime carries a four year prison sentence.

Dutch luxury car manufacturer Spyker bought the Swedish firm from General Motors in 2010. However, Spyker failed to reinvigorate the loss-making brand, and Saab Automobile filed for bankruptcy in December 2011.

In March 2011, Jonsson left his position as chief executive of Saab Automobiles, citing personal reasons for the departure – he was replaced by Victor Muller.

Hong Kong-owned National Electric Vehicle Sweden acquired Saab Automobiles in September 2012, planning to unveil its first electric car in 2014 based on Saab technologies.

 

 

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