Tax evasion

Pension fund chairman resigns

The chairman of one of Sweden's biggest pension funds has resigned from his post after Swedish Radio News revelations that he evaded taxes by sheltering millions of his own private company's money in Peru - paying a low four per cent tax there.

The ex-chairman Bertil Villard was publically criticized for immoral tax evasion by the Swedish Trade Union Confederation and the Confederation of Swedish Enterprises contributing to the pension funds

He insists the has done nothing illegal and that he had informed others about using the tax agreement set up with Peru decades ago to promote Swedish investments there.