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Appeals court clears ex-Skandia director

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14:49 CEST+02:00
The Svea Court of Appeal has acquitted Ulf Spång, the former director of Swedish insurance firm Skandia, of charges of tax evasion.

The prosecutor, Christer van der Kwast, had requested that Spång be sentenced to one and a half years in jail for declining to declare the transfer of 20 million kronor ($2.7 million) in accrued bonuses from a Skandia company to a firm registered to him on the tax haven Guernsey.

But the Svea Court of Appeal announced on Monday that it found in line with a prior district court ruling that Spång should be acquitted.

"The Svea Court of Appeal does not consider it proven that Spång deliberately submitted erroneous information in his tax declaration by neglecting to declare the 200 million kronor income," the court announced in its ruling.

The County Administrative Court (Länsrätten) has in a previous ruling raised Spång's taxable income for 2002. This ruling has been appealed by Spång to the Administrative Court of Appeal (Kammarrätten), which has not yet considered the case.

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