18 Charged in Major Insider
Photo: Magnus Hjalmarson Neideman/SvD/TT

18 Charged in Major Insider Trading Case in Sweden and Norway

The Economic Crime Authority prosecutes 18 people suspected of serious insider crimes.

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This concerns three Swedish and 15 Norwegian citizens, according to a press release from the authority.

Together, they are reported to have earned almost 10 million kronor through stock trading on Nasdaq Stockholm in connection with a takeover bid on a software company during the autumn of 2023.

"According to the indictment, two people have received insider information through their work at a Norwegian venture capital company. They have then traded themselves through a proxy, but also spread the information to relatives who had hardly traded in stocks before", says Pontus Hamilton, public prosecutor and investigation leader at the Economic Crime Authority in a comment.

According to the Economic Crime Authority, which has conducted the investigation together with its Norwegian counterpart Økokrim, the trading has on several occasions affected the stock price of the company upwards.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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