According to the indictment, the total profits amount to approximately 4.4 million kronor. The investigation has been able to show that the main person "to some extent" has received compensation for their tips, according to Pontus Hamilton, lead investigator and prosecutor at the Economic Crime Authority.
Gross insider crimes can result in up to six years' imprisonment, and according to Pontus Hamilton, the penalty value is at the imprisonment level for "several" of the accused persons, if they are convicted of the crimes they are accused of.
The indictment concerns trading in shares of one company in 2019 and four companies from autumn 2021 to spring 2022. The main person in the indictment was, at the time of the suspected crime, employed by the market surveillance department at the Nasdaq Stockholm Stock Exchange. According to the indictment, he shortly before the share trading received insider information about upcoming bids on the companies in question, and subsequently passed on his knowledge to the related persons who in turn bought shares.
Pontus Hamilton notes that it is serious that charges are being brought against a person who holds this position of trust – and whose work has been to detect precisely this type of crime.
This accused person knows how such crimes are investigated and what they are looking for. This also means that one can naturally protect oneself in various ways or take the measures that may be necessary to avoid detection.
All the accused deny any wrongdoing.
Four people are being charged with gross insider crimes allegedly committed in 2019, 2021, and 2022. The main suspect had a prominent position within market surveillance at the Nasdaq Stockholm Stock Exchange when the transactions were carried out.
The Economic Crime Authority notified the four suspects of gross insider crimes in autumn 2023 following a raid on the Nasdaq Stockholm Stock Exchange, and three of them were detained for a time.
The handling of the case has also caused problems for Nasdaq. The American stock exchange operator was fined 100 million kronor last summer following a sanctions decision by the Financial Supervisory Authority (FI), as Nasdaq had not reported the suspected transactions.
