Key player in Trustor affair sentenced to prison

Thomas Jisander, one of the principals in the so-called Trustor affair has been convicted by the Stockholm District Court for grave embezzlement.

The conviction calls for him to serve one and a half years in prison

According to prosecutor Berndt Berger, Jisander had embezzled around 20 million kronor ($3 million) that he funneled from Trustor to various foundations in Liechtenstein.

According to the prosecution, Jisander is also suspected of having neglected to pay taxes at least 50 million kronor.

However, the court has dismissed charges of serious tax fraud against him.

The so-called Trustor affair began in 1997 after British businessman Lord Moyne bought the majority stake in Trustor. Trustor’s own money was illegally used to finance the purchase. 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. Thomas Jisander was convicted in 2001 but subsequently freed on appeal.

In 2004, another principal player, Joachim Posener was ordered by a court 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.

Posener does however still owe 21 million kronor to the Swedish Enforcement Authority (Kronofogden).