Ex-Skandia boss appeals conviction

Former Skandia CEO Lars-Erik Petersson is to appeal against his conviction for breach of trust, for which he was jailed for two years at the end of May.

A split Stockholm district court found that he unlawfully removed the ceiling in insurance company Skandia’s Wealthbuilder bonus programme, costing the company 156 million kronor.

The appeal is grounded on the fact that the court failed to consider around 20 objections and factors that Petersson cited in his defence, according to Petersson’s lawyers.

“This failure is tantamount to a serious failure of justice, and has meant that the district court has not been able to make a correct assessment of Lars-Eric Petersson’s actions,” wrote his lawyers Torgny Wetterberg and Christer Brantheim in their submission.

“In addition, this failure has led to the court not noticing that it has ruled on matters not even covered by the prosecution.”

Petersson’s lawyers also claim that the district court failed to carry out proper analysis of the evidence. The court also failed to examine the credibility of former Skandia chairman Lars Ramqvist and board member Boel Flodgren.

The lawyers also say they do not understand how the court can consider that it has done its job properly when it allegedly failed entirely to take account of important evidence, the sequence of events and the circumstances.

They say that Petersson should therefore be acquitted.

Petersson was found not guilty in the original trial on other charges relating to changes he was alleged to have made to his pension agreement.