Eight charged with extortion against former stock exchange CEO

Eight people are being prosecuted in the blackmail scandal against Joachim Kuylenstierna, former CEO of the listed investment company Fastator. The Swedish playboy Jonas Falk is said to have been behind the blackmail attempt.

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Eight charged with extortion against former stock exchange CEO
Photo: Caisa Rasmussen/TT

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Prosecutor Anna Stråth describes the extortion attempt as extremely serious, where Kuylenstierna received threats and demands for payment of 100 million kronor in the autumn of 2023. His close colleagues also received threats.

It's the CEO and three others linked to the company's management who have either been mapped out or received threats, says Stråth.

As part of the extortion attempt, one of the colleagues' villas was subjected to an arson attack in November. The family was, however, at home and managed to put out the fire.

Investment 2009

The background to the extortion is, according to Anna Stråth, an investment of 27 million kronor made in 2009 in a company linked to Joachim Kuylenstierna. It didn't go as planned, and the investor lost money.

And now there are demands for payment from the plaintiff, where the claim is now up to 100 million kronor instead of 27, says Stråth.

One of the people involved in the investment, according to the prosecutor, was Jonas Falk. The investigation against him is not yet complete, and he is not being prosecuted now, but Anna Stråth believes that it is he who has been behind the extortion attempts.

In a computer seized in his home in Spain, they have found extortion messages that were sent to the plaintiff, she says.

Falk was identified as the mastermind behind one of Sweden's largest drug busts, "Operation Playa", but was acquitted ten years ago. He was arrested in Spain in August and is now detained pending extradition.

The Vårby Network

Among those being prosecuted now for the extortion attempt are two people linked to the criminal Vårby network in southern Stockholm, as well as a lawyer.

The lawyer is also alleged to have conducted an extensive loan-sharking business without accounting for seven years, and is suspected of gross accounting fraud in that part.

Other charges include gross usury, false certification, illegal coercion, gross obstruction of justice, and population registration fraud.

In the case, claims are also being made for corporate fines, business bans, and advisory bans. For the lawyer, it involves a total of 7.5 million kronor in corporate fines, as well as ten-year business and advisory bans.

Joachim Kuylenstierna left the CEO position at Fastator in December 2023.

"Considering my own health and for the company's best, I am now leaving as CEO", he commented on the decision in a press release.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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