Alarm bells are ringing. But they have done a long time, unfortunately for shareholders, employees and the financial markets. FPC is consolidating its position as one of the Stockholm Stock Exchange’s main scandal companies.
The company belongs to the ranks of hope companies that fertilizes the market with press releases that often on vague grounds talking about new fancy collaborations with major companies and future income, all to get course to rush. It has also succeeded until now, when the house of cards seem to fall.
An acclaimed release was the cooperation with Microsoft as published in the summer 2013 “agreement with Microsoft, the company’s by far largest ever, “said CEO John Carlstrom then to SIX News. The problem was that there was no formal collaboration and no contract and no order.
While the press release has ticked this has unfortunately not revenue ticked up in the same speed. The company has had major financial problems and repeatedly had to ask shareholders for new money. Most recently, in January this year when the company took in 138 million kronor. It was the company’s seventh new issue since 2006, probably some kind of record. Nevertheless, continuing losses – for the second quarter of this year shows you a score of minus 45 million.
But the financial the problems are still secondary compared to the purely criminal activities that have surrounded the company in a couple of years now.
It all started in April 2010, when two middle-aged men started their trade in Fingerprint Cards share when together fielded 600 000 dollars on a depot with Nordnet. One sat in Fingerprints management team as sales manager for Asia and had access to sensitive information about the Company’s business, details listed inside information. On April 19, is the first stock purchase and shortly thereafter sends the man in Fingerprints Management praise by e-mail, according to court documents:
“Saw what you did. Good fixed. I’ll let you know tomorrow when the opportunity arises. “
The two men total profit was just over 1 million. They were sentenced in mid-May by the Court of Appeals for gross insider abuse and attempted aggravated insider crime to imprisonment for ten months and one year respectively.
A year ago it was time for the next scandal. On October 11, 2013 was broadcast a fake news release from Fingerprint who told me that Samsung Electronics buys the company for over 4.2 billion.
The news got to share tokrusa before it was revealed that it was all a scam. Crimes Bureau quickly began an investigation around the acclaimed event, but there are still no suspects. It should be said that Fingerprints lead never have been suspected in this case.
But the new events Fingerprint – a griffin former board member and a detained president and armed police in the company’s premises, confiscating computers and equipment – changing position.
On the one hand, the investigation of suspected gross insider abuse in its infancy, and one should be wary of hasty conclusions. On the other hand, it is obvious that something is rotten in Fingerprint Cards. And one need not be overly conspiratorial to wonder if all the strange events surrounding the company in any way, though interconnected. There has been a scandal for much of Fingerprint Cards. Uppförsbacken is now vertical, despite the new announcement from last week that Huawei uses Fingerprints touch sensor in its new smartphone.
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