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:

Million Compensation to Housing Association
Photo: Johan Nilsson/TT

Share this article

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.

Tags

Author

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

More news

Government Boosts Environmental Compensation for Freight Trains

Government Boosts Environmental Compensation for Freight Trains

More Voters Expected in Next Year's Swedish Election

More Voters Expected in Next Year's Swedish Election

Pandemic Face Masks Pose Environmental Risk with Microplastics and Chemicals

Pandemic Face Masks Pose Environmental Risk with Microplastics and Chemicals

Teen Girl Stabbed in Borås; Suspect of Same Age Arrested

Teen Girl Stabbed in Borås; Suspect of Same Age Arrested

Algal Bloom Crisis Worsens at British Isles' Largest Lake Lough Neagh

Algal Bloom Crisis Worsens at British Isles' Largest Lake Lough Neagh

Man in His 70s Dies in Drowning Accident at Motala Beach

Man in His 70s Dies in Drowning Accident at Motala Beach

Government Plans to Add Chickenpox Vaccine to Child Vaccination Program

Government Plans to Add Chickenpox Vaccine to Child Vaccination Program

Gang Leader Among Two Escapees from Borås Detention Center

Gang Leader Among Two Escapees from Borås Detention Center

Stolen Swedish Data from Miljödata Leaked on Darknet, Expert Warns

Stolen Swedish Data from Miljödata Leaked on Darknet, Expert Warns

How to Avoid Salmonella: Tips for Safe Egg and Food Handling

How to Avoid Salmonella: Tips for Safe Egg and Food Handling

Södermalm Explosion Deemed a Misfire by Police

Södermalm Explosion Deemed a Misfire by Police

Hackers Threaten to Release Personal Data After Miljödata Breach

Hackers Threaten to Release Personal Data After Miljödata Breach

Gotland Braces for Heavy Rain as SMHI Issues Yellow Warning

Gotland Braces for Heavy Rain as SMHI Issues Yellow Warning

Swedish Potato Farmers Face PFAS Dilemma Amid Consumer Demands

Swedish Potato Farmers Face PFAS Dilemma Amid Consumer Demands

Head-on Collision on E4 in Huskvarna Sends Five to Hospital

Head-on Collision on E4 in Huskvarna Sends Five to Hospital

Kristersson Criticizes Stegrud's Actions in Stockholm Incident

Kristersson Criticizes Stegrud's Actions in Stockholm Incident

Kristersson Invites Center Party to Join Growth Pact

Kristersson Invites Center Party to Join Growth Pact

Swedish Citizens Extradited from Dubai Arrested for Serious Crimes

Swedish Citizens Extradited from Dubai Arrested for Serious Crimes

SMHI Issues New Rain Warning for Flood-Hit Västernorrland

SMHI Issues New Rain Warning for Flood-Hit Västernorrland

Man Arrested for Murder of Elderly Man in Skurup

Man Arrested for Murder of Elderly Man in Skurup