One of Sweden's biggest companies under investigation
Swedish hygiene products firm SCA has been placed under preliminary investigation by a public prosecutor after a string of media reports on lavish spending of corporate money, reports AFP.
Swedish District Prosecutor Thomas Forsberg told Reuters an investigation was ongoing, but gave no further details. An SCA spokesman told Reuters the company had just learned of the investigation, and therefore declined to comment.
SCA is at the centre of a corporate spending scandal that last week led to its chairman, Sverker Martin-Löf, resigning from the board of investment company Industrivarden, SCA's main owner.
On Friday, Swedish daily Svenska Dagbladet, reported that Chief Executive Jan Johansson and his daughter used SCA's corporate jet to fly to the FIFA World Cup in Brazil last year. Johansson told the paper the purpose of the trip included reviewing strategic expansion options.
SCA said last week it had changed its policy regarding the use of company planes.
The SvD writes that if the Prosecutor's investigation shows that SCA's aircraft were used for private trips it may involve abuse of shareholders' money, and breach of trust. The newspaper reported earlier this month that SCA, one of the biggest companies in Sweden, built luxury hunting lodges in northern Sweden for the use of company executives.