Prosecutors call for extended detentions in insider scandal

Prosecutor Robert Engstedt has called for an extension to the detention of a 34-year-old Cevian employee being held in connection with an ongoing insider trading investigation.

Engstedt requested that the man referred to by local media as ‘Cevian Man’ be held until May 23rd, as preliminary investigations would not be completed by the deadline of 2pm on Wednesday.

The other man suspect in the case, the 35-year-old ‘Nordea Man’ is due to face charges on Thursday. But again the prosecutor is not expected to be ready on time, which could either mean that his period in custody will be extended or that he will be released.

“There is still a risk of collusion,” said Robert Engstedt, explaining his request for the continued detention of the Cevian employee.

The prosecutor is concerned that the suspect could obstruct the investigation, either or by talking to other suspects or removing evidence.

Business news site E24 has also reported that prosecutor Stig Åstrom has called for the detention of a man suspected suspected of having assisted the Nordea employee. A warrant has been put out for his arrest.