Luxury Real Estate Agent Sentenced for Multi-Million Fraud

The star real estate agent sold homes for billions in Stockholm's inner city. But the success story hid gross crimes and connections to gang criminality. Now he is sentenced to prison for three years and six months.

» Updated: October 07 2024

» Published: June 28 2024

Luxury Real Estate Agent Sentenced for Multi-Million Fraud
Photo: Fredrik Sandberg/TT

The star real estate agent sold homes for billions in Stockholm's inner city. But the success story hid gross crimes and connections to gang criminality.

Now he is sentenced to prison for three years and six months.

The real estate agent, who is in his 40s, is convicted of gross fraud, gross obstruction of tax control, seven cases of gross accounting fraud, and three cases of gross money laundering in business.

His lawyer tells TT that he finds it remarkable that the district court convicts the man of three cases of money laundering in business.

The man's business partner is also convicted of the same crimes and sentenced to prison for four years and six months. Both are banned from business activities for five years.

Two women are also convicted, one of whom receives a two-year prison sentence and the other a conditional sentence and day fines.

Stockholm Profile

The newly graduated real estate agent established himself as one of the country's most successful with sales values in the billions. When the Economic Crime Authority struck in May last year, cracks appeared in the polished facade.

The real estate agent was arrested, suspected of gross economic crimes, along with a business partner of the same age and two women. In March, charges were brought for, among other things, gross fraud and gross accounting fraud.

According to the charges, false income information was used to mislead banks into granting loans. Among other things, the business partner and his wife allegedly received loans of nearly 10 million kronor on false grounds.

The real estate agent and business partner were also charged with gross accounting fraud, accused of not having recorded business transactions of nearly 50 million kronor.

The duo is also suspected of gross money laundering in business in connection with several real estate deals where the payment, according to the charges, may have originated from criminal activity.

Employed Gang Criminal

One of these concerns an apartment deal mediated by the real estate agent in 2019. The seller was the business partner, and the buyer was a 26-year-old gang criminal who is internationally wanted, suspected of involvement in the murder of 12-year-old Adriana in Norsborg the following year.

When the 26-year-old applied for a loan, he claimed to be permanently employed as an IT manager at the real estate agency. According to the star real estate agent, the gang member was employed to "bring in deals". Other employees who have been heard in the investigation say they have never heard of him.

Joakim Lusensky, the Swedish Association of Real Estate Agents' communications manager, believes that the verdict and the multi-million fraud risk affecting the industry's reputation negatively.

But we have over 7,500 real estate agents in Sweden, and around 170,000 deals are made every year. This type of event is extremely rare, but it doesn't make them any less serious.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Sweden's Ugliest Building: New Lund
1 MIN READ

Sweden's Ugliest Building: New Lund House Sparks Debate

Swedish Teen Sentenced to 10
1 MIN READ

Swedish Teen Sentenced to 10 Years in Denmark for Explosives Transport

Sweden Proposes Profit Ban for
1 MIN READ

Sweden Proposes Profit Ban for New Independent Schools

Man at Arlanda Airport Found
1 MIN READ

Man at Arlanda Airport Found with 7,000 Dollars in Cash

Swedish Minister Pushes for Journalist's
2 MIN READ

Swedish Minister Pushes for Journalist's Release in Talks with Turkey

Queen Silvia Resting After Successful
1 MIN READ

Queen Silvia Resting After Successful Foot Surgery

Police Clarify Timeline in Örebro
1 MIN READ

Police Clarify Timeline in Örebro Shooting Investigation

Busch Criticizes Influencers for Fueling
2 MIN READ

Busch Criticizes Influencers for Fueling Body Image Issues in Youth

Energy Minister Ebba Busch Faces
1 MIN READ

Energy Minister Ebba Busch Faces Constitutional Committee Review

Invasive Leaf Flatworm Detected in
1 MIN READ

Invasive Leaf Flatworm Detected in Blekinge, Raising Concerns

Carbon Monoxide Blamed for Kebnekaise
1 MIN READ

Carbon Monoxide Blamed for Kebnekaise Deaths, No Crime Suspected

Two Sentenced for Unexploded Grenade
1 MIN READ

Two Sentenced for Unexploded Grenade Attack on Malmö Restaurant

Simona Mohamsson Takes Charge to
3 MIN READ

Simona Mohamsson Takes Charge to Revitalize Sweden's Liberal Party

Record Number of Swedes Register
1 MIN READ

Record Number of Swedes Register for University Entrance Exam

Shots Fired at House in
1 MIN READ

Shots Fired at House in Hudiksvall, Police Investigate Attempted Murder

15-Year-Old Girl Suspected in Eslöv
1 MIN READ

15-Year-Old Girl Suspected in Eslöv Bus Stabbing Incident

Demirok Steps Down as Center
1 MIN READ

Demirok Steps Down as Center Party Leader Citing Internal Leaks

Swedish Care Worker Jailed for
1 MIN READ

Swedish Care Worker Jailed for Defrauding Elderly of Millions

Ancient Greek Harbor Unearthed by
3 MIN READ

Ancient Greek Harbor Unearthed by Stockholm University Team

Suspected Murder in Hässleholm: One
1 MIN READ

Suspected Murder in Hässleholm: One Person Detained

Teenage Girl Stabbed on Bus
1 MIN READ

Teenage Girl Stabbed on Bus in Eslöv; Four Teens Arrested

Ex-Regional Official in Sweden Faces
1 MIN READ

Ex-Regional Official in Sweden Faces Charges in Pension Fund Bribery Case

Shingles Vaccine Linked to Lower
2 MIN READ

Shingles Vaccine Linked to Lower Dementia Risk in Older Adults

Critics Challenge Proposal to End
3 MIN READ

Critics Challenge Proposal to End Summer Grazing for Swedish Dairy Cows

Sweden Proposes Transparency for Lottery
1 MIN READ

Sweden Proposes Transparency for Lottery Purchases Supporting Parties

Elderly Man's Death in Gullspång
1 MIN READ

Elderly Man's Death in Gullspång Fire Investigated as Suspected Murder

Sweden Tightens Control on Opioids
1 MIN READ

Sweden Tightens Control on Opioids and Hazardous Substances

Sweden Braces for Economic Impact
2 MIN READ

Sweden Braces for Economic Impact from US Tariffs, Government Warns

Swedish Man Faces Arson Charges
1 MIN READ

Swedish Man Faces Arson Charges for House Fire in Norway

Man Charged in Fatal Lund
1 MIN READ

Man Charged in Fatal Lund Knife Attack Linked to Drug Deal

Electric Scooter Accidents Surge by
1 MIN READ

Electric Scooter Accidents Surge by 30 Percent in 2024, Young Riders Most Affected

Skåne Manager Faces Charges for
1 MIN READ

Skåne Manager Faces Charges for Embezzling Millions from Municipalities

Teen Faces Court in Sweden
2 MIN READ

Teen Faces Court in Sweden for Alleged Sect-Linked Knife Attack

Elderly Man Critically Injured in
1 MIN READ

Elderly Man Critically Injured in Kävlinge Villa Fire

Somalia Expels Swedish Aid Chief
1 MIN READ

Somalia Expels Swedish Aid Chief Anna Saleem Högberg

Sweden Proposes Tighter Security at
2 MIN READ

Sweden Proposes Tighter Security at Migration Detention Centers

Swedish Foreign Minister to Discuss
2 MIN READ

Swedish Foreign Minister to Discuss Journalist's Detention with Turkey

Casino Cosmopol in Stockholm to
1 MIN READ

Casino Cosmopol in Stockholm to Close Following Riksdag Decision

Sweden's Malmer Stenergard to Discuss
2 MIN READ

Sweden's Malmer Stenergard to Discuss Journalist's Detention with Turkey

Parents in Sweden Jailed for
1 MIN READ

Parents in Sweden Jailed for Locking Children in Basement