Ex-Skandia man has sentence cut

A former senior executive of Swedish insurance company Skandia has had his sentence for gross breach of trust reduced by a court in Stockholm.

Ola Ramstedt, the company’s former human resources manager, was given an eighteen month sentence by Stockholm’s Svea Court of Appeal on Wednesday, down from an original sentence of two years.

Håkan Lennersand of property company Diligentia and another man who had received prison sentences in the original trial were given suspended sentences and fines by the appeal court.

The men were convicted for abusing their positions to draw up false bills to cover costs for renovating apartments lived in by Skandia executives. The bills stated that the renovations were being carried out at Skandia’s head office, whereas they were in fact being carried out on the apartments.

As well as his prison sentence, Ramstedt faces legal bills of 850,000 kronor. Lennarsand was fined 120,000 kronor and has legal fees of 900,000 kronor. The other man convicted, a project worker who has not been named, was fined 50,000 kronor and faces legal bills of 300,000 kronor.