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Ericsson Executives Cleared Of Tax Evasion

by Ulrika Lomas, Tax-News.com, Brussels

12 December 2006


The Stockholm City Court has acquitted all current and former Ericsson employees of all charges related to last year's indictments for tax evasion, the company announced last week.

Henry Stenson, senior vice president and head of Corporate Communications, Ericsson, stated that: "We welcome, and are not surprised by, the acquittals. We have believed all along that none of the indicted was guilty."

The charges, filed by the Swedish National Economic Crimes Bureau, alleged that three current and four former employees were involved in the tax evasion, including Ericsson's former head of strategy, Torbjorn Nilsson.

According to the prosecution, directors at Ericsson were engaged in 'the serious obstruction of tax checks' stretching back to the late 1990s.

The directors were accused, with the help of false invoices, of siphoning off about SEK3.3 billion (US$470 million) to foreign bank accounts.

Prosecutors also accused them of manipulating accounts to mislead the tax authorities.

The prosecutors have not indicated if they will appeal the court's verdict.


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