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May 28, 2020
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Ex-Starbreeze exec convicted of insider trading

Ex-Starbreeze exec convicted of insider trading

February 13, 2020 | By Alissa McAloon

After over a year of investigation, one of two former Starbreeze executives suspected of insider trading has been found guilty of selling shares before the decision to restructure was made public.

Reporting from the Swedish publication Dagens Industri (via Reddit) notes that the unnamed exec has been convicted of insider trading and fined his part in the illicit deal.

A separate report from GamesIndustry identifies that ex-executive as former CFO Sebastian Ahlskog, and names that fine as SEK 40,000 or just over $4,100.

The investigation was made public knowledge near the end of 2018 as the Swedish Economic Crime Authority raided Starbreeze’s Stockholm office to seize evidence and arrest one of the individuals thought to be involved.

The accusation at the core of the investigation was that certain individuals with knowledge of Starbreeze’s then-impending financial strife moved to sell shares in the company before those issues, and the resulting year-long restructuring period, was announced to the public.

Former CEO Bo Andersson was also suspected of insider trading for much of the investigation, but was cleared as a suspect last month.

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