Reports from the ongoing trial in Sweden of former Skandia executives - related to alleged charges with losses stemming from bonus structures - suggest chief prosecutor Christer van der Kwast has asked the court to pass a sentence of up to six years imprisonment for former chief executive Lars Erik Petersson for his role in the financial scandal.
Sweden's biggest morning newspaper Dagens Nyheter, which has been running a series of blogs written by its journalists attending the trial, says in its latest online edition the penalty was demanded in van der Kwast's summing up of the prosecution's case.
Reasons for demanding such a tough sentence include taking account of Petersson's previous role as chief executive, as well as the actual sums of money involved.
These factors mean, if found guilty, Petersson ought to at the very least face a sentence from the upper levels of the schedule used by courts in Sweden to determine punishments for those found guilty of particular crimes, van der Kwast has argued.
Becuse of the charges faced by Petersson in this case, there can be no doubt he will face a prison sentence of some sort, the prosecutor has reportedly said.
Petersson could also be banned from managing businesses in future.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Jonathan Boyd on 020 7484 9769 or email [email protected].IFAonline
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