– In my opinion there is a perception in the soul of the people to treat and industry tops always escape. Here then is an indictment showing that there is equality before the law, says Gunilla Sandblom is acting head of the Financial Chamber of Economic Crimes Bureau.
It is unusual to board members, auditors and managers banks accused of serious crimes when banks make bad business. Therefore stand trial on HQ Bank out. Mats Qviberg, who was Chairman of HQ Group is the heaviest named among the five defendants.
The trial that begins today comes aggravated accounting offenses and serious racketeering and can give a maximum of six years in prison.
Later this year, is expected to another trial in which the bank’s shareholders claiming damages of five billion for the lost in the banking crash. Lawyer Christer Sandberg, representing the shareholders.
– Although every Swedish bank had big problems HQ showed a cocky attitude and that it had no problems whatsoever. In retrospect, it has been found that one simply has misled the market and that it has used its own fictitious values for evaluating the trading portfolio that had problems.
A so-called trading portfolio contains securities, in this case securities with high risk who quickly lost their value when the market went in the wrong direction for investors. HQ Bank lost in the end, 1.2 billion of these securities.
The indictment against Mats Qviberg and the other does not apply if they took excessive risks, but they should have tried to cover the losses of the business for customers, shareholders and authorities.
Qviberg’s attorney Hans Strandberg think the prosecutor will make it difficult to prove that someone at HQ bank cheated with the accounts.
– There we mean he will not do. It will perform a number of experts in the trial who will tell you that this is applied correctly and then fall all the charges.
– Since when it comes Mats Qviberg will be other circumstances in the next step. His focus is definitely not on valuation issues and trading portfolios in the Bank. There are an incredible number of talented people on the staff who handle it.
No comments:
Post a Comment