Skandia’s Former CEO Freed
A court of appeal has freed the former CEO of the financial services group “Skandia”, Lars-Eric Petersson, from charges of fraud.
The court arrived at the verdict with one vote against it as it found not enough evidence for the charges. The Stockholm district court had sentenced Petersson to two years imprisonment in June 2006.
Lars-Eric Petersson was then found guilty of abusing his position to hand out 25 million dollars in unapproved bonuses to himself and other executives.