Monday, February 8, 2016

HQ Bank’s directors in court – Norrtelje Newspaper

A hunted man. Financier Mats Qviberg on HQ's extraordinary general meeting shortly after that HQ Bank crashed. Stock Photography.

 A hunted man. Financier Mats Qviberg on HQ’s extraordinary general meeting shortly after that HQ Bank crashed. Stock Photography.
 

                     
                    

FREDRIK SANDBERG / TT

            

 
  Economic Crimes / TT
 
 A successful career may end up behind bars. On Tuesday begins the trial of financier Mats Qviberg and his underlings mess around crashed HQ Bank.
 

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Facts

Background: FI took state

During the spring of 2010 it appears that HQ Bank has problems, impairments of several hundreds of millions of crowns made in trading operations.

on August 28, 2010 recall of Finansinspektionen (FI) states of HQ Bank. According to FI, trading operations have taken such great risks to the bank’s survival is jeopardized.

On August 30, the cover HQ Bank in liquidation by the Stockholm District Court.

Just a few days later, the news that Carnegie takes over HQ Bank. Same day begins Crimes Bureau investigation for aggravated accounting fraud and racketeering in the bank.

January 2015 prosecuted Mats Qviberg plus three other senior managers in HQ.

More than five years later begins thus trial Stockholm District Court on Tuesday 9 February.

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Mats Qviberg was Chairman of HQ AB, owner of the bank HQ Bank, which went bankrupt in the late summer of 2010.

Together with three other peaks in the bank accounts of the accused for serious racketeering – a crime that can carry between six months and up to six years in prison. Although the auditor prosecuted for complicity in grave scam – he wrote on a clean audit report although, under the prosecutor felt the serious shortcomings.

According to the indictment, they intentionally or recklessly spreading misleading information to the public and company shareholders on the Bank’s financial position.

the prosecutor’s alleged misstatement about the valuation of financial instruments on the bank’s department – a score that is contrary to accounting rules.

the trial in the District Court of Stockholm is expected to continue until May And did the men learn to learn many new complicated terms.

In addition to the criminal case, HQ’s old shareholders sued Mats Qviberg and auditors at KPMG in about five billion, including interest.

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