The company was based on the Stockholm suburb of Bromma. Photo: Henrik Montgomery/TT

Two jailed for Panaxia scandal

Hundreds of shops were affected when cash-transport firm Panaxia went bust. Now two former top executives of the company have been sentenced to over a year in prison each.

Stockholm District Court found one man and one woman guilty of a gross breach of trust, and one of the was also guilty of false bookkeeping. They must also pay SEK 5 million to the bankrupt Panaxia's creditors.

The court found that both the accused had abused people's trust, when they took five million from Panaxia to another company. But Swedish Radio reports that they were acquitted of stealing almost 20 million. The prosecution has not decided whether to appeal.

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