FPC Board Member, Former CEO Arrested by Economic Crime Authority

Fingerprint Cards says its “operations are not affected by these events.”

A board member and a former employee of Fingerprint Cards have been taken into custody by the Swedish Economic Crime Authority over allegations of insider trading.

FPC Board Member, Former CEO Arrested by Economic Crime AuthorityThe individuals in question are board member Lars Söderfjell and Johan Carlström, a major shareholder in FPC. Carlström stepped down as FPC’s Business Developer last autumn, and has also previously held the role of CEO of the company. In 2015, he also faced separate charges of insider trading from the Economic Crime Authority.

Carlström formally left the company on October 15th, not long after a new CEO, Christian Fredrikson, took the helm from previous CEO Jörgen Lantto in August of 2016. In a statement addressing Carlström and Söderfjell’s arrests, FPC said its “operations are not affected by these events,” adding, “No decisions have been made regarding Lars Söderfjell’s participation in the Board.”

The new arrests stem from suspicious share trading undertaken ahead of the company’s Capital Markets Day on December 8th, an event in which FPC unveiled a refined revenue prediction for 2017.

Sources: Bloomberg, Reuters

January 23, 2017 – by Alex Perala