Cherry offices raided, CEO arrested on accusations of insider dealing

In a statement released on Tuesday afternoon, Swedish gaming group Cherry has confirmed that its CEO, Anders Holmgren, is the subject of an investigation by the Swedish Economic Crime Authority.

The company said in a short release: “[Cherry] has been informed that the Swedish Economic Crime Authority has initiated an investigation for insider crime as a result of share trading by Cherry’s CEO, Anders Holmgren.

“During the morning, the Swedish Economic Crime Authority has performed a search at the head office of Cherry AB and in relation to this event, the company’s CEO, Anders Holmgren, was arrested.

“Cherry will fully co-operate with the Economic Crime Authority in the investigation. During the period of the investigation, Gunnar Lind, chairman of the Cherry Audit Committee, will be acting CEO of Cherry.”

Cherry shares briefly slumped as news of the raid broke, falling by more then seven per cent in a matter of minutes, to SEK64.4 (€6.3) before staging a recovery to around SEK67.1 (€6.6).