The verdict of Vänersborg district court was a success for all seven accused in the Saab trial into financial crimes. All, including chair of the board of Saab Victor Muller and CEO Jan Åke Jonsson, were acquitted of all charges.
Lawyer defending head lawyer Kristina Geers, Per E Samuelsson, says that the verdict is not a surprise and he is strongly critical of the process. “It is not rational to spend so much time and resources on something that interferes so much with so many individuals when there is no crime,” he says and assesses that it cost taxpayers over 10 million kronor.
Head prosecutor Olof Sahlgren says that he did not expect this outcome.
Stockholm City Court has cleared Mats Qviberg, Stefan Dahlbo, Curt Lönnström, Mikael König and auditor Johan Dyrefors of fraud charges in connection with the HQ banking scandal.
The origins of the trial date back to August 2010, when the Swedish Financial Supervisory Authority (FSA) withdrew HQ Bank’s licence, as prosecutors at the Swedish Economic Crime Authority claimed the bank and its parent company HQ had not followed International Accounting Standard 39 when valuing options in the trading portfolio. Yesterday the Stockholm court ruled that HQ’s method of calculation was permissible.
Chief prosecutor Martin Tidén says he wishes to read through the court’s ruling before he decides whether to appeal.