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Another former boss at scandal-hit Skandia jailed

Published fredag 13 oktober 2006 kl 15.47
Former Skandia boss Ola Ramstedt

Ola Ramstedt, former deputy Chief Executive of the Swedish insurer has been found guilty of fraud.

The court in Stockholm decided he made the company pay almost two and a half million US dollars for renovating nine apartments belonging to other executives or their relatives and pretended the cash had been used to renovate Skandia’s main office in the city centre.

Ramstedt had denies the charges against him and was found not guilty of bribing construction managers to keep quiet about the false invoice.

He is the second former executive at the company to be jailed this year, after Lars Eric Petersson was found guilty of giving out 22 million dollars in bonuses to managers without board approval.

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