Ericsson officials to be tried for fraud

Five officials in Sweden from telecom giant Ericsson are suspected of defrauding several billion kronor (millions of dollars), Swedish agency TT reported on Sunday.

The five suspects allegedly created false bills between 1998 and 1999 in order to escape fiscal controls.

If the appeals court judge, who is set to announce a verdict Thursday, pays heed to the prosecutor’s accusations, the five could serve time in jail, TT reported.

Ericsson which was not available for comment on Sunday is said to have acknowledged as part of the investigation that errors in its billing system were possible.

However, Ericsson said it had respected international commercial legislation, TT reported.