• Sweden edition
 
Prison sentence for Trustor fraud upheld

Prison sentence for Trustor fraud upheld

Published: 26 Oct 2009 12:56 GMT+01:00
Updated: 26 Oct 2009 12:56 GMT+01:00

The Svea Court of Appeal on Monday upheld a prison sentence for Thomas Jisander, who was convicted in 2008 for embezzling 20 million kronor ($3 million) in the so-called Trustor affair.

Jisander, who sought to have the previous conviction overturned, was fighting charges of having ordered the sum be transferred from the Trustor investment company to Liechtenstein-based foundations under his control in the late 1990s.

He was convicted of grave embezzlement by the Stockholm District Court in May 2008 and sentenced to eighteen months in prison, although the court acquitted him of suspicions of tax fraud.

In its summary judgment, the appeals court found that there was no doubt whatsoever that Jisander participated in the criminal takeover of Trustor and that he knew the purchase of then-owner Per-Olov Norberg’s Trustor stock would be paid for from Trustor’s own accounts.

As a result, the court ruled that Jisander didn’t have the right to profit from the $2.8 million which was paid out to him.

“The payment has thus occurred for a purpose which was out of place in Trustor’s operations, which means that the payment was detrimental for Trustor,” the court wrote in its judgment.

Jisander’s defence attorney Leif Silbersky was quick to take issue with the ruling.

“The sentence of one and a half years is too sever. It should have been a suspended sentence,” Silbersky told the TT news agency.

“Such a harsh ruling after nearly 12 years of investigations and trials is inappropriate. It’s not Thomas Jisander’s fault that things have dragged on so long.”

The Trustor affair stems from a 1997 transaction involving British businessman Lord Moyne, who illegally bought a majority stake in Trustor by financing the purchase with Trustor’s own money .

Shortly afterwards, it became clear that the company had been subject to a major fraud.

Lord Moyne, a writer and son of the well-known British aristocrat Diana Mitford, was cleared of any wrongdoing.

Jisander, who had helped set up the deal, was convicted in 2001 but subsequently freed on appeal.

In 2004, a court ordered another principal player in the scandal, Joachim Posener, to pay back 125 million kronor to Trustor. The case was tried in his absence, and attempts to find out where he was hiding were unsuccessful.

Posener disappeared from Sweden in the wake of the Trustor affair in 1997 but the time limit for his prosecution has now expired.

TT/David Landes (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

19:45 October 26, 2009 by geecee61
Oh great 18 months for this crime....20 months for pre-meditated murder...who the hell thinks up these tariffs???
Today's headlines
Woman charged after accusing beggar of theft
The people in this picture are not those from the story. Photo: TT

Woman charged after accusing beggar of theft

A woman in Gothenburg who accused a beggar of robbing her has been charged with fraud and false accusations. READ () »

Swedish royals set baptism date for princess
Photo: Kungahuset

Swedish royals set baptism date for princess

Sweden's royal family has set the date for the baptism of Princess Leonore. READ () »

The Local List
Evidence Game of Thrones is set in Sweden

Evidence Game of Thrones is set in Sweden

With Swedish Game of Thrones fans frothing at the mouth at the season four premiere, The Local revisits its list of ten reasons why the hit books and show are (probably) based in Sweden. READ () »

'Baffling' Swedish raid on German sub makers
The Kockums Malmö shipyard and FMV headquarters. Files: TT

'Baffling' Swedish raid on German sub makers

After the Swedish military raided the Malmö premises of German defence giant Thyssen Krupp, a military expert tells The Local why recent Russian aggression means Sweden's Saab needs to take control of national submarine production. READ () »

Swedish kids crack adult content 'code' at school
A child, unrelated to the story, on her computer. File photo: TT

Swedish kids crack adult content 'code' at school

Swedish parents who busted their children looking at adult content online were shocked to find the kids saying 'they'd learned the code at school'. READ () »

Industry bellwether SKF recovers to turn profit
A file image of ballbearings. Photo: Shutterstock

Industry bellwether SKF recovers to turn profit

After a drab end to 2013, Swedish ballbearing makers SKF anew posted a profit in its first quarter review. It could spell good news for the manufacturing industry worldwide. READ () »

Swedish Hobbit actor jailed in cocaine case
Swedish actor Mikael Persbrandt. File photo: TT

Swedish Hobbit actor jailed in cocaine case

Swedish actor Mikael Persbrandt has appealed a five-month prison sentence, handed down on Tuesday after he was found guilty of buying cocaine. READ () »

Property of the Week
In Pictures: The Local's Property of the Week
The property in Skinskatteberg. Photo: Fastighetsbyrån

In Pictures: The Local's Property of the Week

The Swedish countryside is littered with small second homes, many up for a steal if you can see beyond dated wallpaper and imagine a country retreat with chanterelles and lingonberries growing in your backyard. READ () »

Puppies lost in 'black market' chihuahua raid
A chihuahua papillon crossbreed puppy. File photo: Shutterstock

Puppies lost in 'black market' chihuahua raid

Thieves escaped from a flat in Malmö on Monday with jewellery, electronics, and four chihuahua-papillon puppies. Police worry the dogs will be sold on the black market, a growing trend in Sweden. READ () »

JobTalk Sweden
Sweden's worst office clichés revealed

Sweden's worst office clichés revealed

"We have to hit the brakes and the gas at the same time." Does your Swedish boss confuse you? You're not alone. Swedes have crowned that phrase as the worst workplace cliché of the year. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
Politics
Who's the prime minister's heir?
Alfie Atkins
Society
Are children's books the key to families integrating in Sweden?
National
'Sweden Dem protests cater to party's martyr image'
National
'Swedish research grants were fantastic, but now it's like Australia'
Society
Only in Sweden: The ten problems you'd never encounter elsewhere
National
Swedes stopped to take my picture, but didn't look me in the eyes
Business & Money
A swipe of the hand replaced cash and cards in Lund
YouTube
Features
Video: Oliver Gee finds out how to embrace The Swedish Hug
TT
National
Abba duo hints at reunion
Private
National
Flash mobs hug it out across Sweden
Finest.se
Gallery
People-watching April 11-13
TT
Politics
Swedes to give six-hour workday a go
Advertisement:
TT
Society
Aussie choir member wows Abba in Sweden
YouTube
Society
Stockholm magic a surprise YouTube hit
Fastighetsbyrån
Society
Gallery: The Local's Property of the Week
Private
Society
Swedes find 200-year-old gravestone in living room
Stockholm School of Economics
Sponsored Article
Why a bachelor's degree is no longer enough
Deepti Vashisht
Features
Deepti Vashisht dissects the magic of Sweden's personal ID number
Shutterstock
Society
Ten signs you've been in Sweden too long
Society
Jimi Fritze heard every word when doctors discussed taking his organs
Society
A Swedish farmer explains why the new bestiality ban is 'pointless'
Society
'Blondes have more brains': Swedish study
TT
Society
VIDEO: Leaked 'Save Slussen' film goes viral
finest.se
Gallery
People-watching, March 28-30
ESL
Sponsored Article
Learning Swedish the easy way
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Blog Update: The Diplomatic Dispatch

28 October 15:16

The Green Growth Group Summit »

"Today on the 28 October in Brussels, a large group of key EU Ministers and business people, including UK Secretary of State for Energy and Climate Change Edward Davey, and Swedish Environment Minister Lena Ek, will meet to discuss green growth. They all have a stake in resolving a challenge which, although it is crucial..." READ »

723
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com