Intellego: Investigators uncover order fraud after Moveo Med withdraws SEK 240 million order

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Intellego: Investigators uncover order fraud after Moveo Med withdraws SEK 240 million order
Photo: Christine Olsson/TT

Intellego announces that German company Moveo Med has withdrawn an order worth approximately SEK 240 million that, according to previous reports, had been placed with Intellego's subsidiary Yuvio.

According to a press release from Intellego, external investigators from the accounting firm KPMG have shown that the terms of Yuvio's order, including payment and delivery terms, were falsified. The terms concerned disinfection equipment based on UV technology.

Intellego manufactures and develops UV technology. The company's shares - with 19,000 owners - have been suspended since the Swedish Economic Crime Agency (EBM) raided the company on November 18.

The suspicions - classified as gross fraud and accounting crimes - concern misleading information and reporting by the company.

Former CEO Claes Lindahl has been informed of the suspicion and fired. But a sitting board member of Intellego has also been informed of the suspicion of a crime.

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