Court orders arrested Cherry CEO detained on insider trading charge

Anders Holmgren, the CEO of the Cherry gaming group, has been detained following a court hearing in Stockholm today.

In a short statement, the company said it had been informed that: “The Stockholm District Court has detained Anders Holmgren on reasonable grounds suspected for severe insider trading.”

It continued: “Cherry was, on 22 May 2018, informed that the Swedish Economic Crime Authority had initiated an investigation for insider crime by Anders Holmgren.”

Gunnar Lind, chairman of the Cherry Audit Committee, continues be acting CEO of Cherry during the period of the investigation.

The court’s decision to detain Holmgren follows Tuesday’s dramatic raid at the company’s Stockholm offices and the CEO’s arrest.