A technical glitch at the bank allowed the man to make 376 withdrawals from five different cash machines within a few hours late during the night of April 6th this year.
Altogether, the man managed to take out 2.825 million kronor before disappearing out of the country.
The man was arrested in Poland on April 19th, but had to be released because an international warrant had not yet been issued for his arrest, according to the Helsingborgs Dagblad newspaper.
Police eventually issued a warrant and were able to bring the man back to Sweden, whereupon he was remanded in custody.
But the man’s return to Swedish soil left a number of questions unanswered as to what happened to the missing loot.
According to the 54-year-old, he was robbed during his time abroad, although he did manage to turn over half of the cash to his lawyer.
He contests the charges of gross fraud brought by prosecutors, arguing instead that his actions would be better addressed through the lesser charge of unlawful conduct.
The man is part owner of two small companies and has private debts of around 100,000 kronor and had previously been convicted for various crimes, including the smuggling of narcotics, according to Helsingborgs Dagblad.
The trial of the 54-year-old is expected to start next week in the district court in Lund in southern Sweden.