Million Compensation to Housing Association

A former chairman of the board of one of Sweden's largest housing associations is sentenced by Malmö District Court to pay over 56 million kronor in damages to the association.

» Published: February 07 2025

Million Compensation to Housing Association
Photo: Johan Nilsson/TT

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He is also to pay the association's legal costs of approximately 800,000 kronor.

Several trials have been held regarding the HSB association Ida in Malmö. In one of them, the former chairman of the board was convicted by the court of appeal for gross disloyalty towards the principal. He has also been convicted of receiving bribes worth approximately 870,000 kronor. The bribes came from representatives of companies with which the housing association had multi-million deals.

Money was transferred out of the housing association under the guise – it was claimed to be advance payments for various projects. The association paid millions of kronor for various construction and renovation projects with borrowed money over a three-year period. Some of the projects did not materialize, while others had unreasonably high costs.

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

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