The ruling was announced by Stockholm District Court on Wednesday. The company must also pay damages of SEK 375,000 to Swedish Export Credit (SEK), as well as the opposing party's legal costs of SEK 25,000.
The ruling comes after Swedish Export Credit (SEK) sued Intellego for reselling fraudulent invoices.
The District Court writes in the judgment that SEK acquired three invoice receivables from a Chinese company during the summer and autumn of 2025, and then paid Intellego 11.6 million euros.
"In retrospect, it has been shown that the circumstances were such that the sales contracts were invalid under civil law even when they were entered into," the court states.
There is a storm surrounding Intellego, which sells color indicators for UV radiation. At the end of January, the auditing firm KPMG determined that SEK 640 million of the SEK 644 million reported as revenue during the third quarter should not have been included.
The Stockholm Stock Exchange has submitted a request to the disciplinary committee to delist the company.
The company's former CEO is suspected of, among other things, gross fraud and was arrested in November last year. He is now free but remains a suspect. In addition, a board member has been served with a criminal complaint.
